LME prices unchanged; Logistics tightness at one-year lows
1. LME prices hardly changed today, still officially eyeing the $2,950–$3,000 per mton resistance zone target.
2. RERUN. US MW PREMIUM ANALYSIS – PAST ITS PEAK: Logistics tightness is past its peak and should gradually dissipate ahead according to leading indicators.
3. GREEN ALUMINUM ALERT. GOING GREENER: North America’s aluminum industry halves its average carbon footprint.
4. RERUN: US SCRAP ALERT. ON DEMAND: Consumers and brokers looking for EC wire and 6063 clean scrap units.
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5. China’s aluminum prices approaching expected target of 21,000 yuan per mton.
6. LME Cash–3M contango still unsupportive of P1020 premiums; warrant cancelations drive LME live inventories to sixteen-year lows.
More details in full report.