LME price fails to sustain rally as bearishness increases; LME contango returns

1. LME price unchanged as technical rallies continue to be sold amid demand deterioration; LME price technicals gradually turning bearish again.

2. BRAZIL ALUMINUM ALERT. EQUILIBRIUM DYNAMICS: Brazil’s P1020 premiums readjust as market activity resumes. CIF P1020 premiums drop while delivered duty-paid premiums rise.

3. China’s aluminum prices rise after testing three-week lows.

4. LME Cash–3M spread returns to contango, although conditions remain tight for metal financing.