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LME prices down as resistance holds at $2,900 per mton; Producer selling behind backwardation at back end of the curve

1. LME prices still unable to sustain levels above $2,900 per mton amid technical selling and Chinese demand slowdown concerns.

2. SHFE aluminum prices up but lack enough momentum to retest a fifteen-year high.

3. LME Cash–3M contango narrows slightly from twelve-week highs.

More details in full report.