LME prices re-enter the $… per mton zone; US UBC discounts at a seven-month low

SPECIAL NOTE: HARBOR’s Daily Aluminum Commentary will not be published tomorrow, Thursday, November 25, due to the Thanksgiving Holiday in the US.

1. LME prices rally to three-week high and re-enter the $2,700–$2,800 per mton zone.

2. China’s aluminum prices up and nearing two-week highs as support holds.

3. US UBC ALERT. US UBC DISCOUNTS NARROW TO A 7-MONTH LOW.

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4. LME Cash-3M spread still in backwardation; December–January tightness intensifies further.

More details in full report.