World mfg activity rebounds from possible cyclical trough; LME prices testing key $1,550 per mton level
1. LME prices down amid consolidation of biggest rally in two years; a new leg up toward $1,700 per mton would be unleashed if prices break through... per mton.
2. End-user aluminum demand recovery in process as manufacturing activity leaves behind record declines.
3. LME Cash–3M contango widens for the first time in nine sessions, remains profitable for cash-and-carry deals.
4. MW Duty-Unpaid P1020 premium assessed today at... cent/lb.
5. HARBOR’s Implicit Green Aluminum Upcharge assessed today at zero.
6. China’s aluminum prices sustain gains as they approach medium-term resistance levels.
More details in full report.