LME price falls back below resistance level; Long-term contangos widened from Friday’s two-year low
March 29, 2021
ALERT! - MEXICO SECONDARY.
1. LME prices down and unable to break above key $2,270 per mton resistance level.
2. LME Cash–3M contango widens amid looser conditions after April (supportive of cash-and-carry deals).
3. ALERT! - MEXICO SECONDARY. SECONDARIES NOW PRODUCING A356.2: Mexican secondaries are being pulled into the primary foundry market. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
4. SHFE aluminum prices up but lacking conviction to reach their resistance zone.
More details in full report.