LME price extends short-term bounce; LME inventories spike in Asia; Prices above $… seen as unsustainable

1. LME price climbs to six-week highs, approaching technical resistance at the higher end of the $… per mton trading range. Levels above $… per mton are seen as possible but not sustainable.

2. China’s aluminum prices reach medium-term resistance amid Q1 demand news.

3. LME Cash–3M contango widens from five-month lows amid inventory buildups and April’s contract settlement.