Three-month LME aluminium ended the day 0.59% higher at US$1,547/t; SHFE aluminium added 0.84%

The US dollar extended its slide against a basket of rivals on Friday.  LME aluminium climbed 0.6% and SHFE aluminium gained 0.5%.

Three-month LME aluminium hit a new two month-peak of US$1,549 per tonne, before ending the day 0.59% higher at US$1,547 per tonne. Shanghai Metals Market expects the contract to hover between US$1,530-1,550 per tonne today.

As of Friday May 29, LME aluminium cash (bid) price stands at US$ 1515 per tonne, LME official settlement price stands at US$ 1515 per tonne; 3-months bid price stands at US$ 1536.50 per tonne, 3-months offer price is US$ 1536.50 per tonne; Dec 21 bid price stands at US$ 1647.50 per tonne, and Dec 21 offer price stands at US$ 1647.50 per tonne.

The LME aluminium opening stock stood at 1500900 tonnes. Live Warrants totalled 1282050 tonnes, and Cancelled Warrants were 218850 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1536.93per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 1877 per tonne on Monday, 01 June 2020.

The most-liquid SHFE July contract hit two-month high of RMB13,260 per tonne. The contract ended the day 0.84% higher at RMB13,215 per tonne on Friday. This marked the sixth consecutive day of increase. The contract fluctuated to close 0.49% higher at RMB13,220 per tonne on Friday night. The contract is expected to trade between RMB13,050-13,300 per tonne today.

source https://www.alcircle.com/news/three-month-lme-aluminium-ended-the-day-0-59-higher-at-us1-547-t-shfe-aluminium-added-0-84-55947