LME prices end the week above $... per mton; LME backwardation returns (bearish for P1020 premiums)
Special Note: HARBOR’s Daily Aluminum Commentary will not be published on Monday nor Tuesday, December 27-28, as the LME will be closed due to the observed Christmas and Boxing Day Holidays.
1. LME prices fall but manage to end the week above $... per mton, as a cyclical top formation remains in the making.
2. China’s aluminum prices retreat below... yuan per mton.
3. LME Cash‑3M spread turns to backwardation amid narrow availability of free-floating warrants (bearish for P1020 premiums).
More details in full report.