LME prices capped by inventory buildups; Cash–3M spread returns to contango (supportive of premiums)
1. LME prices hardly changed as inventory buildups in Asia cap gains, range-trading with support at $1,740 per mton continues.
2. LME aluminum inventories reach an eleven-month high while live stocks hit a two-year high.
3. LME Cash–3M spread returns to a narrow contango for the first time in three weeks (supportive for spot premiums).
4. HARBOR’s Implicit Green Aluminum Upcharge assessed today at zero.
5. China’s aluminum prices testing three-week highs amid upbeat economic data.
More details in full report.