LME price closes below cycle peak zone; Contango returns for LME Cash–3M spread

1. LME prices not yet able to consolidate inside the key $… per mton cycle peak zone, where prior bull markets have ended.

2. SHFE aluminum prices rebound toward fourteen-year highs.

3. EUROPEAN ROLLING MILL ALERT. SHEET CONVERSION PRICES SPIKE FOR 2022: European rolling mills locking in 2022 contracts with significant conversion price increases.

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4. LME Cash–3M spread turns to contango for the first time in three weeks.

More details in full report.