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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Special Note: HARBOR’s Daily Aluminum Commentary will not be published on Monday nor Tuesday, December 27-28, as the LME will be closed due to the observed Christmas and Boxing Day Holidays.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.