LME price up and above $... per mton; LME Cash–3M backwardation intensifies again
January 19, 2022
1. LME price closes again above $... per mton.
2. China’s aluminum prices approach recent three-month highs.
3. LME Cash–3M backwardation intensifies amid tighter conditions from February onward (bearish for P1020 spot premiums).
More details in full report.