LME price up as range-trading continues; US MW premium falls below… cent/lb

1. LME price maintains a short-term range-trading pattern, supported by Chinese demand optimism.

2. SHFE aluminum prices continue to hover around the upper end of the prevailing trading range.

3. ALERT! – US MW PREMIUM ALERT – from HARBOR’s Pricing Unit. BELOW… CENT/LB: MW spot premium falls further.

4. ALERT! – US UBC. DELAYED: UBC 2024 mating season fails to start.

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5. LME Cash-3M contango remains wide and supportive for cash-and-carry deals.