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LME price closes week 2% down; LME nearby backwardation intensifies

1. LME prices fall to short-term support of $... per mton after failing to conquer $2,600 per mton this week.

2. SHFE aluminum prices find support at two-week lows.

3. LME Cash–September backwardation intensifies as warrant availability tightens.

4. SEASONAL BREAK CONTINUES: Some European secondary volume arriving to North America as suppliers look for alternative homes. For more details, please subscribe to our specialized Europe Aluminum Scrap Intelligence Report.

More details in full report.