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LME prices find some interim relief; CME MW duty-paid financials for H1 2020 bounce back to...cent/lb

Executive Summary

1. LME prices find some support amid easing market fear. If the key $1,680 per mton support fails, then $1,550 per mton becomes a possibility.

2. LME Cash–3M contango widens to a three-week high amid loosening nearby spreads (supportive for spot premiums).

3. CME MW duty-paid financials for H1 2020 bounce towards 13.60 cent/lb.

4. China’s aluminum prices underperform and remain near-one-year lows.

More details in full report.