LME prices still trading in the $... mton range; LME Cash–3M backwardation returns
January 17, 2022
1. LME prices rise with thin volumes, remaining within HARBOR’s identified target range of $... per mton.
2. China’s aluminum prices test support at... yuan per mton.
3. LME Cash–3M backwardation returns amid steep tightness from February onward (bearish for P1020 spot premiums).
More details in full report.