LME price plunges to key $... per mton amid demand destruction and supply expansions
March 9, 2022
LME PRICE ALERT.
1. LME PRICE ALERT. LME prices plunge to key $... per mton support level, as demand destruction continues while primary and secondary supply expands to fresh record with no relevant disruptions.
2. LME Cash–3M contango narrows from an eight-month high, but remains supportive for P1020 premiums.
3. China’s aluminum prices pull back to a six-week low.
4. GREEN ALUMINUM ALERT. GOING GREENER: EGA planning to procure grid power to increase production of Green/Low-Carbon aluminum.