LME and SHFE prices reach fresh lows and then bounced back
1. LME Cash price falls to $... per mton before bouncing back; medium-term technicals remain bearish with more range trading expected in the short term between $... per mton.
2. China’s aluminum price tests four-week lows.
3. ALERT! – MEXICO 6063 SCRAP. COMPETITION EASES: 6063 scrap spot demand weakens; margins improve for secondaries.
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4. LME Cash-3M contango yield remains uneconomic (bearish premiums); recent inflows into LME warehouses offset by spike in canceled warrants.