LME prices fall below cycle peak zone; Chinese aluminum association reiterates bearish view
September 1, 2021
CHINA PRICE ALERT
1. LME prices fell by 1% from yesterday’s ten-year high, pressured lower by technical selling and bearish market sentiment out of China.
2. SHFE aluminum prices fall from fourteen-year highs as Chinese producers reiterate bearish views and demand stalls.
3. CHINA PRICE ALERT. UNHAPPY? Chinese aluminum association reiterates bearish view.
4. US BILLET ALERT. SELLERS MARKET: Latest 2022 contractual billet upcharges at... cent/lb.
5. LME Cash–3M backwardation eases sharply to $... per mton, although nearby tightness remains intense.
More details in full report.