LME price up toward expected resistance levels; LME Cash–3M contango at an eight-week low of $... per mton
May 19, 2022
1. LME price advances to a two-week high as it attempts to test key resistance near $... per mton.
2. China’s aluminum prices testing medium-term technical resistance.
3. LME Cash–3M contango now at the tightest in eight weeks, unattractive for short-term financing of physical units (bearish P1020 premiums).