1. LME 3M aluminum price closes week above the $2,400 per mton support line, attempting to consolidate above HARBOR’s identified “value” zone.
LME 3M aluminum prices closed the session at $… per mton, rising by $5 per mton or 0.2% from yesterday but closing the week lower by 0.6% w/w. Aluminum prices range-traded today amid cautious optimism ahead of this weekend’s trade talks between US and Chinese officials, better-than-expected…
2. China’s aluminum prices regain some ground after testing one-month lows.
SHFE front-month aluminum prices closed today’s session up 0.3% at… yuan per mton, extending gains in after-hours to… yuan per mton on cautious trade optimism and better-than-expected…
3. LME Cash-3M contango widens marginally from six-week lows, remains unsupportive of short-term cash-and-carry deals (bearish P1020 premiums).
The Cash-3M contango closed the week widening slightly to $… per mton from yesterday’s six-week low of $… per mton. The May–June contango widened to $…