LME price plunge reaches HARBOR’s target as Chinese price collapses

1. LME PRICE ALERT. Although the $... per mton represents strong support in the short term and thus a rebound is possible; we continue to see LME prices falling in 2022 toward $... per mton.

2. China’s aluminum prices plunge 5% to a fresh four-month low, testing intermediate technical support levels.

3. US ROLLING MILL ALERT. SURCHARGES NOW IN CONTRACTS: Freight, magnesium, and melt loss surcharges now part of many new and existing contracts.

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4. GREEN ALUMINUM ALERT. GREEN SFA SUPPLY INCREASES: Eccomelt to expand green secondary A356 ingot production in Houston.

5. LME Cash–3M contango widens above $... per mton; long-term backwardations ease to two-month lows.

More details in full report.