LME price bounces to $…; LME Cash-3M backwardation intensifies

1. LME price up amid technical buying and nearby spread tightness, remains within HARBOR’s identified narrow short-term trading range of $… per mton.

2. China’s aluminum prices up to a one-week high, approaching short-term resistance.

3. UPDATE! – WORLD SMELTING PRODUCTION COST. BELOW $… per mton.

For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.

4. LME Cash-3M backwardation intensifies to double digits (bearish P1020 spot premiums).