LME price falls to $... per mton amid world aluminum demand contraction and Consensus forecast downgrade

NOTE. HARBOR’s Daily Aluminum Commentary will not be published between April 6 and April 10 due to the Easter Holiday.

1. LME price continues to fall, pressured down by demand contraction confirmation and outlook, and deteriorating short-term technical momentum. Prices headed toward $... per mton with our view of a visit toward the $... per mton zone before the end of the year.

2. ALERT! – GREEN ALUMINUM. MORE GREEN ENERGY FOR SMELTERS: Vedanta to power Balco smelter with renewable energy.

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3. LME Cash–3M contango narrows but continues to be supportive for short-term cash-and-carry deals.

4. The Shanghai Futures Exchange (SHFE) was closed today due to the Tomb-Sweeping holiday. Trading will resume on Thursday, April 6.