Maintaining Our View of Significant LME Price Downside Risks

Executive Summary

1. LME 3M primary aluminum prices skyrocketed to all-time highs of $4,070 per mton as…
    

2. Current record high LME prices are destroying primary aluminum demand and strongly…
    

3. We maintain our view that LME prices will likely reached this cycle’s peak in Q1 2022 as a result of…
    

4. HARBOR continues to see LME price levels above $… per mton as fundamentally unsustainable. HARBOR’s base forecast scenario stands at $… per mton for 2022 and $… per mton in 2023.
    

5. Consensus view also suggest…