LME Prices On Track to Complete a Cyclical Top Formation

LME aluminum prices are re-visiting the $... per mton zone as they continue to complete a cyclical top formation.
 

We continue to believe that LME aluminum prices have already reached a cycle peak in October 2021
 

Medium-term fundamental outlook continues to suggest lower LME prices.
 

Both HARBOR and Consensus continue to see lower average LME prices in 2022