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LME price near lows awaiting Fed guidance (which resulted to be bearish); LME contangos signaling growing surplus


1. LME prices traded near lows awaiting the result of today’s Fed meeting. After the Fed’s meeting, market priced in economic weakness ahead forcing the Fed to cut rates as soon as Q3 2023 (Bearish LME prices).

2. China’s aluminum prices climb back to one-week highs.

3. ALERT! – GREEN ALUMINUM. MORE SUPER GREEN SUPPLY: China’s Sichuan announces new... k mtpy aluminum recycling project.

For more details, subscribe to HARBOR’s specialized “Green Aluminum” reports.

4. LME Cash–3M contango still at 15-year highs, confirming surplus and supportive for cash-and-carry deals.