LME price pressured down by demand deterioration; LME Cash–3M spread again in backwardation
August 18, 2022
1. LME price underperforms amid demand contraction spreadout; mounting bearishness may break range-trading mode in the following weeks.
2. China’s aluminum prices resume losses after failing to climb above expected technical resistance.
3. LME Cash–3M in backwardation again amid tight conditions ahead of November.