LME price collapse continues, door is open for $... per mton
October 27, 2021
LME PRICE ALERT.
1. LME PRICE ALERT. AS WARNED ABOUT: LME price plummets to $... per mton, Chinese coal price cap could imply LME prices below $... per mton.
As anticipated by HARBOR and confirmed by several cyclical bearish warnings, LME 3M aluminum prices plunged today to an intraday low of $... per mton, down 6% or $174 per mton from yesterday.
2. China’s aluminum prices plunge to a three-month low, almost reaching a key technical threshold.
3. CME MW premium financials fall to seven-week lows.
4. LME Cash–3M contango widens above $... per mton.
More details in full report.