Three-month LME aluminium fell closed 0.96% lower at an intraday low of US$1,649/t; SHFE aluminium grew 1.17%

The US dollar rallied from a four-week low against a basket of rivals on Thursday. LME aluminium fell nearly 1% and SHFE aluminium advanced 0.3%.

Three-month LME aluminium fell on Thursday after notching its highest since March 13 at US$1,695.5 per tonne. It ended 0.96% lower at an intraday low of US$1,649 per tonne. It is likely to move between US$1,640-1,680 per tonne today.

As of Thursday July 9, LME aluminium cash (bid) price stands at US$ 1659.50 per tonne, LME official settlement price stands at US$ 1659.50 per tonne; 3-months bid price stands at US$ 1687 per tonne, 3-months offer price is US$ 1687 per tonne; Dec 21 bid price stands at US$ 1772 per tonne, and Dec 21 offer price stands at US$ 1772 per tonne.

The LME aluminium opening stock stood at 1632675 tonnes. Live Warrants totalled 1342725 tonnes, and Cancelled Warrants were 289950 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1679.67 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 2077 per tonne on Friday, 10 July 2020.

The most-liquid SHFE August contract advanced to a session high of RMB14,315 per tonne and closed up 1.71% on the day at RMB14,290 per tonne on Thursday.

The contract eased from a nearly six-month peak of RMB14,330 per tonne in overnight trading to close 0.28% firmer at RMB14,255 per tonne in overnight trading. The contract is expected to move between RMB14,100-14,400 per tonne today.