LME prices post biggest daily rally in two years; LME contango remains bearish for global premiums
1. LME prices bounce back strongly above the $... per mton support zone, posting biggest daily rally since October 2018.
2. LME tightness intensifies ahead of February, Cash–3M contango remains uneconomic for cash-and-carry deals (bearish for global premiums).
3. HARBOR’s Green Aluminum Upcharge assessed at zero.
4. China’s aluminum prices rebound after testing a new six-week low.
More details in full report.