LME and SHFE prices down to one-month lows; Cash-3M contango widens to $… per mton amid growing surplus

1. LME Cash aluminum price fall again and close at a fresh one-month low of $… per mton, approaching the low end of the $… per mton trading range.

2. China’s aluminum prices down to fresh four-week lows as central bank stimulus disappoints.

3. ALERT! – CHINA SCRAP IMPORTS. THE START OF A NEW TREND: China’s imports of aluminum scrap spike to six-year highs.

4. LME Cash-3M contango steepens to $… per mton, again approaching fifteen-year highs amid a surplus of metal.