Three-month LME aluminium rose 0.64% to end at US$1,819/t; SHFE aluminium gained 0.3%

The US dollar edged higher in holiday-thinned trading on Tuesday. The dollar index, which tracks the greenback against a basket of other currencies, gained 0.03% and finished at 97.69. LME base metals closed mixed while the SHFE complex mostly increased. LME aluminium added 0.64%and SHFE aluminium climbed 0.25%.

Three-month LME aluminium continued to move rangebound and gained 0.64% on the day to finish at US$1,819 per tonne.

As on December 24, Tuesday, LME aluminium cash (bid) price stood at US$ 1790 per tonne, LME official settlement price stands at US$ 1790.50 per tonne; 3-months bid price stands at US$ 1814 per tonne, 3-months offer price is US$ 1816 per tonne; Dec 20 bid price stands at US$ 1868 per tonne, and Dec 20 offer price stands at US$ 1873 per tonne.

The LME aluminium opening stock decreased to 1484525 tonnes. Live Warrants totalled at 928050 tonnes, and Cancelled Warrants were 556475 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1806.34per tonne.

Benchmark aluminium price for SHFE (Shanghai Future Exchange) rose to US$ 2058 per tonne on Wednesday, 25 December 2019.

The most traded SHFE 2002 contract ended 0.25% firmer at RMB14,235 per tonne.

The most-traded SHFE 2002 contract recovered after declined, ending at RMB14,245 per tonne amid loaded-up short position. The contract is likely to hover between RMB14,120-14,250 per tonne today with spot premiums at RMB130-150 per tonne.

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