Most Read Shanghai aluminium scales near 3-month high on China demand SINGAPORE, May 29 (Reuters) – Shanghai aluminium prices rose to a near three-month high on Friday, underpinned by a solid recovery in demand in top consumer China and falling stockpiles.The most-traded aluminium contract on the Shanghai Futures Exchange (ShFE) climbed to its highest since March 3 at 13,190 yuan ($1,844.94) a tonne, up 0.7%.Three-month aluminium on the London Metal Exchange hovered around its highest level in two months, inching up 0.03% to $1,537.50 a tonne by 0401 GMT.”The aluminium price recovery in Chinese market was primarily driven by quick inventory decline and positive sentiments towards demand recovery,” said analyst Helen Lau of Argonaut Securities in a note.FUNDAMENTALS * STOCKS: ShFE aluminium inventories
response to China tightening control over the city of Hong Kong.DATA/EVENTS (GMT) 0645 France GDP QQ Final Q1 0645 France CPI (EU Norm) Prelim YY Q1 0900 EU HICP Flash YY May 0900 EU HICP-X F&E Flash YY May 1200 India GDP Quarterly Q4 1230 US Consumption, Adjusted MM April 1400 US U Mich Sentiment Final May PRICES ARBS ($1 = 7.1493 yuan) (Reporting by Mai Nguyen; Editing by Devika Syamnath) 2020-05-29 06:21:49
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