LME prices re-enter the $... per mton zone; US UBC discounts at a seven-month low
November 24, 2021
US UBC ALERT.
SPECIAL NOTE: HARBOR’s Daily Aluminum Commentary will not be published tomorrow, Thursday, November 25, due to the Thanksgiving Holiday in the US.
1. LME prices rally to three-week high and re-enter the $2,700–$2,800 per mton zone.
2. China’s aluminum prices up and nearing two-week highs as support holds.
3. US UBC ALERT. US UBC DISCOUNTS NARROW TO A 7-MONTH LOW.
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4. LME Cash-3M spread still in backwardation; December–January tightness intensifies further.
More details in full report.