LME price stuck in range-trading mode; New mill expansions in Azerbaijan and Jordan
1. LME prices failed to extend yesterday’s gains and remained unable to approach technical resistance at $... per mton.
2. China’s aluminum prices unable to sustain gains above... yuan per mton.
3. ALERT! WORLD ROLLING MILL. MORE COIL EXPANSIONS: Investments totaling over $... announced in Azerbaijan and Jordan.
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4. BRAZIL ALUMINUM ALERT. SUBDUED: Brazil’s P1020 spot demand remains weak; domestic offgrade production is up.
5. LME Cash–3M backwardation dissipates while far end contangos widen to new highs.