Demand momentum pressuring up LME prices and P1020 premiums
1. LME prices bounce back amid demand optimism and steady technical support; upward target of $1,940 per mton holds.
2. LME INVENTORY UPDATE. LME aluminum canceled warrants climb to a two-year high, supportive for P1020 spot premiums.
3. LME Cash–3M contango recovers from three-week low as Cash-February loosens (remains premium-supportive).
4. HARBOR’s Implicit Green Aluminum Upcharge assessed today at zero.
5. China’s aluminum prices lose some momentum amid fragile fundamental outlook.
More details in full report.