LME price below key resistance zone; LME spreads return to contango
March 8, 2021
1. LME prices again unable to sustain intraday levels above $... per mton, as US dollar climbs to a three-month high.
2. LME Cash–3M spread returns to contango, but the backwardation ahead of March holds sharp.
3. China's aluminum prices rise, still attempting to consolidate near recent highs.
More details in full report.