Three-month LME aluminium stood at US$1,724.5/; SHFE finished 1.8% higher at RMB14,720/t

Three-month LME aluminium weakened 0.17% to US$1,724.5 per tonne in choppy trading on Thursday. It is expected to move between US$1,710-1,750 per tonne today.

As of Thursday July 30, LME aluminium cash (bid) price stands at US$ 1681.50 per tonne, LME official settlement price stands at US$ 1681.50 per tonne; 3-months bid price stands at US$ 1719 per tonne, 3-months offer price is US$ 1719per tonne; Dec 21 bid price stands at US$ 1798 per tonne, and Dec 21 offer price stands at US$ 1798 per tonne.

The LME aluminium opening stock stood at 1643125 tonnes. Live Warrants totalled 1382325 tonnes, and Cancelled Warrants were 260800 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1729.86per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 2140 per tonne on Friday, 31 July 2020.

The most-liquid SHFE contract traded finished 1.8% higher at RMB14,720 per tonne on Thursday, following a session high of RMB14,805 per tonne. The SHFE September aluminium contract fell to a session-low of RMB14,525 per tonne in overnight trading before reversing the losses and closing 0.14% higher at 14,695. It is likely to trade between 14,500-14,900 per tonne today.