LME prices maintain short-term support at $1,850 per mton (low end of range-trading zone)
LME 3M aluminum prices closed practically without a change at $1,865 per mton (up 0.1% or $2 per mton from Friday). Prices declined to intraday levels as low as $1,851 per mton following signs that the Alunorte alumina refinery’s full restart looks imminent. Nevertheless, ahead of the end of the session, prices experienced once again a slight technical rebound amid better-than-expected US regional manufacturing data. Range trading between $1,850 and $1,930 per mton remains in place.
More details in full report.