1. LME price climbs above the $2,500 per mton level, attempting to re-enter the predominant range of $2,500-2,750 per mton.
LME 3M aluminum prices increased today to a fresh three-week high of $… per mton, rising by 0.9% or $… per mton from yesterday. Technically, LME 3M prices settled just below their 200-day exponential moving average, currently around $…
2. LME Cash-3M backwardation narrows but tightness persists ahead of July’s third Wednesday (bearish P1020 premiums).
The Cash-3M backwardation narrowed to $… per mton from $… per mton yesterday. The Cash-June spread loosened to a contango of $… per mton from yesterday’s backwardation of $…per mton, but the…
3. ALERT! – US SCRAP. IT IS ACROSS THE BOARD: Record discounts for UBC, class, MLC and siding.
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4. RERUN: ALERT! – US UBC. PRICES COLLAPSE, RECORD SPREADS: UBC buying percentages fall on MWP spike, stockpiles.
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5. China’s aluminum prices climb to fresh four-week highs amid US-China trade progress.
SHFE front-month aluminum closed today’s session up 0.9% at… yuan per mton ($… per mton, ex VAT), marking a new four-week closing high. Prices rose throughout the session along with the…