LME price tumbles along with coal prices in China; Backwardation at the back end of the curve eases further
October 21, 2021
LME PRICE ALERT.
1. LME PRICE ALERT. LME aluminum prices plunge 5.2% to $... per mton as coal prices in China accumulate a 30% decline. Extreme price volatility continues to signal a possible cyclical inflection point could be in the making.
2. SHFE aluminum prices extend losses, down to a six-week low.
3. LME nearby contangos narrow further; 3M‑15M backwardation eases to a three-week low.
More details in full report.