LME inventories up to an eight-year high amid growing oversupply
1. LME prices pull back on profit taking and continued inventory buildups.
2. LME INVENTORIES UPDATE. LME aluminum inventories in Asia rise to an eight-year high as the nearby backwardation continues to trigger deliveries.
3. US TARIFFS UPDATE. US Section 301 tariffs on Chinese aluminum imports likely to be reduced to 7.5% amid Phase One trade agreement.
4. LME Cash–3M contango narrows as the December–January backwardations persists.
5. HARBOR’s Implicit Green Aluminum Upcharge assessed today at zero.
6. China’s aluminum prices remain stuck at the 200-day moving average zone.
More details in full report.