LME price down amid growing oversupplied market conditions
October 19, 2023
1. LME Cash price down amid bearish technicals, prevailing oversupply of metal and demand contraction.
2. LME Cash-3M contango widens from four-month lows, remains tight for cash-and-carry deals (bearish premiums).
3. China’s aluminum prices hover around six-week low levels.