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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