LME and SHFE prices down as technical selling intensifies
April 20, 2023
1. LME prices face technical resistance at two-month highs; prices above $... per mton continue to appear unsustainable in the short term.
2. China’s aluminum prices pull back after testing new two-month highs.
3. LME Cash–3M contango narrows again amid nearby backwardation, remains tight for short-term cash-and-carry deals.