1. LME prices find support at $2,600 per mton amid improving US economic data.
LME 3M aluminum prices closed today at $… per mton, up… % or $.. per mton from yesterday. Prices increased after testing early in the session an intraday low of $… per mton.
2. LME Cash-3M backwardation widens.
The Cash-3M backwardation continued steepening to new two-month highs, after settling today at $… per mton from $… per mton previously. The Cash-September backwardation intensified to $… per mton from $… per mton, while the September–October backwardation narrowed slightly to…
3. China’s aluminum prices continue to hold above technical support levels.
SHFE front-month aluminum prices closed today’s session down… % at…yuan per mton ($… per mton, ex-VAT). Prices retreated from yesterday’s one-month high as…