LME price range trading continues; MW spot premium bearish mood dominates
July 26, 2022
US MW PREMIUM ALERT.
1. LME prices lack conviction to approach resistance at $... per mton; multiweek range-trading phase continues.
2. US MW PREMIUM ALERT. MW premium range widens to... cent/lb, bearish mood dominates.
3. China’s aluminum prices stuck below short-term technical resistance level.
4. CHINA ALUMINUM ALERT. Chalco to acquire an additional... % interest in Yunnan Aluminum. Move would limit business competition and enhance smelting operations.
5. LME Cash–3M backwardation intensifies amid nearby short squeeze; tight conditions prevail through November.