LME price falls 10% m/m in February; US LME warehouses to no longer accept new Russian metal

1. LME prices were marginally up for a second consecutive session, but closed February with the biggest m/m drop in eight months.

2. ALERT! – US ALUMINUM. ONLY IN THE US. LME warehouses located in the US will no longer take Russian metal; nothing changes elsewhere.

3. LME Cash–3M contango still wide and supportive for inventory financing deals, close to fifteen-year highs.

4. China’s aluminum prices face short-term upward resistance.