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LME prices bounce back above $1,700 per mton; CME MW duty-paid financials continue to firm up

ALUMINUM PRODUCTION UPDATE.

Executive Summary

1. LME prices up for the first time in two weeks as market fear continues to ease; resumption of our expected $1,740–$1,940 per mton range could be in the cards.

2. LME Cash–3M contango narrows from three-week highs amid lingering nearby tightness.

3. CME MW duty-paid financials for H1 2020 increase to...

4. ALUMINUM PRODUCTION UPDATE. Rusal plans to invest over $80 million in 2020 to modernize two Siberian smelters—Khakas and Sayanogorsk.

5. China’s aluminum prices increase but remain near a one-year low.

More details in full report.