P1020 premiums to be supported by warehouse queues; LME prices down but still above key support
1. LME prices fall on demand uncertainty but remain above key $1,680 per mton support.
2. New LME load-out queues emerge across Asia; P1020 spot premiums to increase around the world.
3. LME Cash–3M contango continues hovering around four-week highs (supportive for spot premiums).
4. China’s aluminum prices continue to find technical support near one-year lows.
More details in full report.