Three-month LME aluminium ended up 1.04%; SHFE aluminium jumped nearly 2%

The US dollar rose on Tuesday on the back of a record rise in US retail sales. LME and SHFE base metals mostly closed higher on the day.

Three-month LME aluminium gained for the second straight session. It ended up 1.04% on the day at US$1,604 per tonne.

As of Tuesday June 16, LME aluminium cash (bid) price stands at US$ 1573.50 per tonne, LME official settlement price stands at US$ 1573.50 per tonne; 3-months bid price stands at US$ 1595.50 per tonne, 3-months offer price is US$ 1595.50 per tonne; Dec 21 bid price stands at US$ 1703 per tonne, and Dec 21 offer price stands at US$ 1703 per tonne.

The LME aluminium opening stock stood at 1616550 tonnes. Live Warrants totalled 1408325 tonnes, and Cancelled Warrants were 208225 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1604.78 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 1960 per tonne on Wednesday, 17 June 2020.

The most-liquid SHFE contract gained 1.95% to end at RMB13,875 per tonne, sharply after notching its highest since January 23 at 13,910 on Tuesday. The contract closed the day higher at RMB13,875 per tonne. It is likely to trade at RMB13,850-14,100 per tonne today.