LME prices reach fresh 28-month highs; Mexico's Almexa's orders latest furnace technology for new mill
1. LME prices up marginally after yesterday’s rally to HARBOR’s short-term bullish target. A break higher would allow $... per mton to be reached soon.
2. HARBOR FIRST. WORLD’S LARGEST TILTING ROTARY FURNACE: Almexa's new mill to have latest scrap-based furnace technology.
3. LME Cash–3M contango continues to narrow amid March backwardation.
4. The Shanghai Futures Exchange (SHFE) was closed due to the weeklong Lunar New Year holiday. Trading will resume on Thursday, February 18.
More details in full report.