LME price struggles to extend bounce; LME contango at a two-month high on ample metal availability

1. LME price remains within HARBOR’s identified trading range of $... per mton.

2. China’s aluminum prices unable to extend gains above one-week highs.

3. RERUN: ALERT! – US TARIFFS MAY END UP NOT HAPPENING. NOT A GIVEN: Imposition of Tariffs or Restrictions on US Imports of Russian Aluminum Not a Sure Bet.

For more details, please see HARBOR’s “ALERT! – US Tariffs May End Up Not Happening” released yesterday.

4. RERUN: ALERT! – CHINESE SMELTING. PRODUCTION CUTS NOT HAPPENING YET. Potential smelting cuts in Yunnan not expected to change market balance amid restarts elsewhere.

For more details, please see HARBOR’s “ALERT! – Chinese Smelting” released yesterday.

5. GREEN ALUMINUM MONITOR. Paying a Premium for Green Energy.

For more details, please subscribe to HARBOR’s specialized “Green Aluminum Monitor Report.”

6. LME Cash–3M contango widens again to seven-year highs amid ample metal supply.