LME price hits new lows within HARBOR’s forecasted zone; Far end LME contangos widest since March 2021
July 5, 2022
1. LME price plunges... % and continues to test key support within $... per mton. Relevant support is still expected, but the underlying trend remains bearish.
2. China’s aluminum prices plunge below support and approach one-year lows.
3. LME far end contangos widen further to fresh sixteen-month highs, while the Cash-3M contango has regained steepness.