LME Price Downward Trend Not Over Yet
September 19, 2023
Executive Summary
1. LME Cash aluminum prices have range-traded during September between $... per mton, not far from a two-and-a-half-year low of $... per mton reached in August. LME prices have been stabilized at low levels by higher oil prices and higher aluminum prices in China, although they still remain unable to exit a medium-term technical downward trend.
2. HARBOR continues to see fresh LME price lows ahead. World manufacturing activity has been...
3. LME prices remain on track to reach the $... per mton zone before year-end, with strong odds of prolonged weakness in early 2024. HARBOR’s LME Cash price forecast for 2024 remains unchanged at $... per mton.