LME price climbs back toward resistance level; LME Cash–3M spread in backwardation
April 21, 2021
US UBC ALERT.
1. LME prices climb back, nearing technical target of $... per mton.
2. SHFE aluminum prices bounce back above multiyear resistance, still attempting to confirm breakout.
3. US UBC ALERT. BOOSTED PROFITABILITY: UBC discounts post new record high at... cent/lb. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
4. MEXICO UBC ALERT. UBC DEMAND WEAKNESS: Mexico’s appetite for UBC units has fallen sharply. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report
5. LME Cash–3M spread in backwardation amid steep tightness ahead of May.
More details in full report.