LME prices remain stuck below $2,200 per mton; SHFE price high enough to keep P1020 export arbitrage open
March 10, 2021
1. LME prices hardly changed, as they remain unable to retest technical resistance zone.
2. LME Cash–3M contango narrows slightly, but conditions after March remain significantly loose.
3. China's aluminum prices hover around... yuan per mton, enough for P1020 arbitrage window to stay open.
More details in full report.