LME prices hover around $...per mton; North American offshore slab imports take off
June 21, 2021
US SLAB ALERT.
1. LME prices increased today, but short-term technical indicators remain bearish. Correction targeting $... per mton remains on.
2. SHFE aluminum prices rebound after nearing three-week low.
3. US SLAB ALERT. SLAB’s NEW ERA: Offshore slab imports into North America take off.
4. LME Cash–3M contango widens sharply above $20 per mton; backwardations persist at the far end of the curve.
More details in full report.