LME price stuck within $... per mton range; LME backwardation persists
January 26, 2022
1. LME prices unchanged amid profit-taking and ongoing support from geopolitical jitters.
2. RERUN: ALERT! – LME PRICE & PREMIUM ANALYSIS. Why sanctions on Russian aluminum exports seem unlikely at this point.
For more details, please see our full “LME Price & Premium Analysis” released yesterday.
3. China’s aluminum prices remain below recent three-month highs.
4. LME Cash–3M backwardation persists amid narrow availability of LME inventories (bearish P1020 spot premiums).
More details in full report.