LME prices supported by declining fear levels; Canadian aluminum exports to the US balloon in May
July 2, 2020
US MW PREMIUM SPECIAL ALERT & ANALYSIS.
Executive Summary
1. LME prices sustain three-week high amid easing fear and positive economic data, still trending toward HARBOR’s $1,670 per mton price target.
2. US MW Premium Special Alert & Analysis. Canadian aluminum exports to the US balloon in May.
3. US automotive recovery continues amid surge in auto sales.
4. LME Cash–3M contango narrows amid increasing tightness ahead of July 8 but remains supportive for spot P1020 premiums around the world.
5. China's aluminum price extends gains until nearly testing their target zone.
More details in full report.