LME prices collapse and reach our target zone of $... per mton; Prices in China plunged the most in a decade
LME prices collapse and reach our target zone of $1,550 per mton; Prices in China plunged the most in a decade
1. LME PRICE ALERT. Prices plunge in intraday trading to HARBOR's anticipated target zone of $... per mton. Levels below $... per mton are seen as unsustainable given multi-decade-long technical and fundamental support.
2. LME aluminum inventories spike in Asia by the most in three months.
3. LME Cash-3M contango remains near a three-week high as April–May tightness dissipates.
4. US ALUMINUM ALERT. Port of Houston suspends operations, could hit some availability of aluminum supply in the US Southwest.
5. China’s aluminum prices plunge by the most in a decade to fresh four-year lows.
More details in full report.