LME price drops to three-week lows as Fed seen tapering stimulus; LME backwardation steepest in five months
August 19, 2021
1. LME prices down to short-term technical support (50-day moving average) as US dollar rallies further and commodities sell off.
2. SHFE aluminum prices down to a two-week low below... yuan per mton.
3. LME nearby backwardation steepest in five months amid intense tightness ahead of September.
More details in full report.
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