LME prices down toward $... per mton; Fed to remove stimulus in a faster fashion; LME backwardation dissipates (P1020 premium supportive)
1. LME prices fell back toward the low end of the $... per mton prevailing range amid mounting Chinese demand concerns and fresh LME inventory buildups.
2. China’s aluminum prices down from a two-week high; technical resistance prevails.
3. GREEN ALUMINUM MONITOR: HalZero technology could produce carbon-free aluminum by 2030.
For details, please see our “Green Aluminum Monitor” released earlier today.
4. US SLAB ALERT. SLAB IMPORTS GROWING: Offshore imports reach record and set to triple in 2022.
5. LME Cash‑3M contango widens to a five-week high, more LME deliveries expected.
More details in full report.