LME price up, short-term bearish bias remains; European PFA contractual demand intact

1. LME prices up today but continue to appear vulnerable to extending the ongoing short-term technical correction, which is targeting the $… per mton zone.

2. SHFE aluminum prices stuck near a one-month low.

3. EUROPE PFA ALERT. NO CONTRACT CANCELLATIONS: PFA contractual demand intact despite auto production curtailments.

4. US CANSHEET ALERT. MORE CANS ON THE HORIZON: CANPACK invests in second US plant. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

5. LME Cash–3M contango widens to a fresh nine-week high of $… per mton.

More details in full report.