Slide continues for LME and SHFE prices; Arconic to be acquired by Apollo
1. LME prices fall further as anticipated by HARBOR
2. China’s aluminum prices down to six-week lows as demand sentiment weakens.
3. ALERT! – US ROLLING MILL. ARCONIC ACQUIRED. Apollo Funds enters agreement to acquire Arconic Corporation.
For more details, please subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
4. LME May–June backwardation continues to ease slowly; Cash-3M contango still too tight for financial deals (bearish P1020 spot premiums).