The US dollar fell to a two-month trough against a basket of currencies on Thursday. LME aluminium gained 0.6% and SHFE aluminium rose 0.4%.
Three-month LME aluminium hit a two-month peak of US$1,541 per tonne. It ended up 0.56% at US$1,538 per tonne. Shanghai Metals Market expects the contract to move between US$1,520-1,560 per tonne today.
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As of Thursday May 28, LME aluminium cash (bid) price stands at US$ 1500.50 per tonne, LME official settlement price stands at US$ 1500.50 per tonne; 3-months bid price stands at US$ 1524 per tonne, 3-months offer price is US$ 1524 per tonne; Dec 21 bid price stands at US$ 1635 per tonne, and Dec 21 offer price stands at US$ 1635 per tonne.
The LME aluminium opening stock stood at 1493075 tonnes. Live Warrants totalled 1269625 tonnes, and Cancelled Warrants were 223450 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1531.88 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 1864 per tonne on Friday, 29 May 2020.
The most-liquid SHFE July contract rose to the highest level since March 9, at RMB13,175 per tonne. It closed the day 1.47% higher at RMB13,155 per tonne on Thursday. The contract fluctuated to close 0.38% higher at RMB13,155 per tonne in overnight trading. The contract is expected to trade between RMB13,000-13,400 per tonne today.
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