LME price higher near $2,600 per mton

1. LME price closes higher as it still targets $2,700-2,750 per mton.

2. LME Cash-3M spread tightness persists as the July-August backwardation intensifies (bearish P1020 premiums).

3. UPDATE! – MW PREMIUM. MWP IN EQUILIBRIUM UPDATE: HARBOR’s MW P1020 Duty-Paid Spot Premium in Equilibrium falls slightly.

4. China’s aluminum prices approach three-month highs amid easing trade concerns and higher alumina prices.