1. LME Cash price rallies back above $2,800 per mton, confirmation tomorrow would unleash further short-term upside toward the $… per mton zone.
LME Cash aluminum prices rallied by.. .% or $… per mton today, closing at $… per mton. Cash prices experienced the biggest one-day increase in five weeks, matching last Thursday’s three-year high close. Meanwhile, LME 3M prices closed the session at $…
2. LME Cash-3M backwardation intensifies again as the nearby short squeeze continues.
The Cash-3M backwardation widens to $… per mton, from $6.66 per mton yesterday, as conditions tightened sharply ahead of December. The Cash–November backwardation widened to $… per mton from $…
3. ALERT! – EUROPE P1020. RALLY INTENSIFIES: European P1020 premium up to $… per mton as bull run continues.
Spot P1020 premiums rise again amid increasing LME prices, scrap tightness, and elevated uncertainty related to the CBAM implementation and Mozal’s shutdown.
HARBOR’s Rotterdam P1020 ingot duty-paid spot transaction premium continued its upward trend after strengthening on the low end to $…
4. China’s aluminum prices rise as trade sentiment improves.
Prices continued to rebound toward our.. yuan per mton target. SHFE front-month aluminum prices closed today’s session up… % at… yuan per mton ($… per mton, ex-VAT), while extending gains in after-hours to… yuan per mton. Prices were mainly supported by expectations for the US and China to agree to extend their trade truce later…