LME prices down as sanctions fears diminish; LME backwardation eases amid inventory buildups
February 23, 2022
GREEN ALUMINUM MONITOR.
1. LME prices fell further from 13-year highs. Prices still stuck within the key resistance zone of $... per mton.
2. China’s aluminum prices fall.
3. GREEN ALUMINUM MONITOR: More companies boost their recycling capabilities and scrap utilization.
For more details, please see “HARBOR’s Green Aluminum Monitor” released earlier today.
4. LME Cash–3M backwardation eases amid fresh inventory buildups; extreme spread tightness still bearish for P1020 premiums.
More details in full report.