LME price up, short-term bearish bias remains; European PFA contractual demand intact
May 26, 2021
EUROPE PFA ALERT.
1. LME prices up today but continue to appear vulnerable to extending the ongoing short-term technical correction, which is targeting the $... per mton zone.
2. SHFE aluminum prices stuck near a one-month low.
3. EUROPE PFA ALERT. NO CONTRACT CANCELLATIONS: PFA contractual demand intact despite auto production curtailments.
4. US CANSHEET ALERT. MORE CANS ON THE HORIZON: CANPACK invests in second US plant. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
5. LME Cash–3M contango widens to a fresh nine-week high of $... per mton.
More details in full report.