LME aluminium rose 0.06% to end at US$1,771.5/t; SHFE aluminium edged down 0.07%

The US dollar stood near two-week highs on Monday after positive US economic data was released Friday. The dollar index, which tracks the greenback against a basket of other currencies, eased 0.02% and finished at 97.66. LME base metals mostly fell while the SHFE complex traded on a mixed note. LME aluminium rose 0.36% and SHFE aluminium gained 0.07%.

LME aluminium increased by 0.06 per cent from Friday’s close of US$1770.5 per tonne to end at US$ 1771.5 per tonne on Monday, December 23.

As on December 23, Monday, LME aluminium cash (bid) price stood at US$ 1771 per tonne, LME official settlement price stands at US$ 1771.50 per tonne; 3-months bid price stands at US$ 1797 per tonne, 3-months offer price is US$ 1802 per tonne; Dec 20 bid price stands at US$ 1855 per tonne, and Dec 20 offer price stands at US$ 1860 per tonne.

The LME aluminium opening stock decreased to 1485625 tonnes. Live Warrants totalled at 1198025 tonnes, and Cancelled Warrants were 287600 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1795.85 per tonne.

Benchmark aluminium price for SHFE (Shanghai Future Exchange) rose to US$ 2041per tonne on Tuesday, 24 December 2019.

The most traded SHFE 2002 contract slipped to an intraday low of RMB14,150 per tonne, before it recovered some ground to close less than 0.1% weaker at RMB14,185 per tonne. Backwardation on SHFE aluminium narrowed as Shanghai Metals Market data showed a smaller decline in aluminium social inventories and spot premiums declined.

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