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LME prices rally to $1,740 per mton threshold; CME MW duty-paid financials now at a two-week high

Executive Summary

1. LME prices climb to a one-week high nearing the $1,740 per mton threshold, technical indicators continue to stabilize amid underlying support.

2. LME Cash–3M contango narrows towards $25 per mton but remains supportive for global spot premiums.

3. CME MW duty-paid financials for H1 2020 rise to a two-week high of 13.91 cent/lb.

4. MEXICO EXTRUSION SCRAP ALERT. Extrusion scrap consumers looking after P0610 units.

5. China’s aluminum prices rise again but remain near key support zone.

More details in full report.