1. LME price falls but remains above the $2,400 per mton level, attempting to consolidate above HARBOR’s identified “value” zone.
LME Cash aluminum prices closed the session at $… per mton, down 0.3% or $… per mton from Friday. LME 3M aluminum prices fell by 0.2%, closing at $… per mton. Aluminum prices opened the week lower amid weaker-than-expected Chinese services sector activity data released overnight, underscoring concerns about China’s economy. Nevertheless…
2. China’s aluminum prices retreat to two-week lows below the 20,000 yuan per mton level.
SHFE front-month aluminum resumed trading after the long weekend, closing today’s session down 0.7% at… yuan per mton, and extending losses in after-hours to… yuan per mton. Prices declined…
3. LME Cash-3M contango widens further above breakeven levels for inventory financing deals.
The Cash-3M contango widened to $… per mton (a 4.3% annualized yield) from Friday’s $… per mton. The May–June contango widened to $…