LME price stalled in range-trading zone; LME Cash–3M backwardation continues
August 25, 2022
1. LME price hardly changed as short-term trading range narrows.
2. RERUN: ALERT! - US MW P1020 PREMIUM. MW DUTY DILUTION: Canadian and Australian P1020 exports to US surge, embedded duty in MW premium falls to 2.6%.
3. China’s aluminum prices fall after testing a seven-week high yesterday.
4. LME Cash–3M backwardation remains in double digits.