Bearish Trend Continues to Target $... per mton
November 16, 2023
Executive Summary
1. LME prices have again failed to rally beyond $... per mton and remain in short-term range-trading mode. Prices rallied in late October to a five-week high of $...
2. However, LME prices are still in a medium-term bearish trend targeting the $... per mton zone. For the balance of the year, it seems LME prices are poised to continue range-trading mainly between $... per mton, with...
3. We have downgraded our LME price forecast for 2024, now expecting LME Cash prices to average around $....