LME price plunges toward key $… per mton support; breach below opens door to … per mton and possibly lower

1. LME price plunges 5% today as bullish technical momentum deteriorates further; breach of key support at $… per mton would open the door for new leg down targeting $… per mton.

2. China’s aluminum prices fall back toward six-week lows.

3. EUROPEAN ALUMINUM ALERT. ENERGY COSTS BITE AGAIN: Trimet reduces further smelting operations in Germany.

4. LME Cash–3M contango loosens to widest since October 2020, supportive for P1020 premiums.