LME price hits HARBOR’s $... per mton price target; Backwardation at the end of the curve intensifies
1. LME prices closed inside HARBOR’s $... per mton target zone as technical selling intensified. Levels above $... per mton have never lasted more than four weeks before a strong price correction occurs.
2. China’s aluminum prices reverse gains after testing an eleven-week high.
3. EUROPE PFA ALERT. VULNERABLE TO GETTING BETTER: Recovery in PFA demand would face supply challenges.
4. US TWITCH ALERT. HIGHER TWITCH PRICES: Prices moving up on a confluence of factors.
Prices have increased amid winter weather and logistical challenges. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report
5. LME Cash–3M contango widens slightly but longer-term backwardations intensify (still unsupportive for P1020 spot premiums).
More details in full report.