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LME prices head for most bullish quarterly close in two years, technical price target of $1,670 per mton remains on

Executive Summary

1. LME price brakes above technical resistance and heads for the biggest monthly and quarterly rally in two years.

2. LME nearby backwardation eases and remains contained to the first week of July; Cash–3M contango remains supportive for premiums.

3. China's aluminum price climbs back to recent four-month highs.

More details in full report.