LME price up but fails to close above resistance at $... per mton; Novelis confirms it will build a... k mtpy rolling mill in Alabama as anticipated by HARBOR
1. In another bearish sign so far, LME prices were unable to sustain levels above $2,800 per mton; short-term downward trend remains on.
2. China’s aluminum prices rebound from a four-and-a-half-month low.
3. ALERT! – US ROLLING MILL. IT’S OFFICIAL: Novelis will build a 600k mtpy aluminum rolling mill in Alabama.
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4. LME Cash–3M contango remains nearly the widest in nineteen months.