LME price up and consolidating above $2,000 per mton; LME backwardation reminder of physical tightness
1. LME prices regain ground as technical buying steps in at the $2,000 per mton level.
2. LME Cash–3M contango remains extremely tight, testament of lack of spot availability.
3. US ROLLING MILL ALERT. STRIKE ENDS: Muscle Shoals has a new 5-year labor contract. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
4. China’s aluminum prices at two-month low support.
More details in full report.