1. LME prices fall and continue to test the low end of the $2,500-2,550 per mton technical support zone; bearish confirmation break would end the range-trading pattern in place since October.
LME Cash aluminum prices closed today at $… per mton, falling by 0.2% or $5 per mton from yesterday. Meanwhile, LME 3M prices closed at a seven-week low of $… For now, LME prices stand at the low end of the $2,500-2,550 per mton zone. A breach below would restore a technical downward trend targeting $… per mton.
2. China’s aluminum prices have slipped to a new three-week low but maintained technical support.
SHFE front-month aluminum prices closed today’s session down by 0.6% at…
3. LME Cash–3M contango tightens to two-week lows ahead of next week’s third-Wednesday contract settlement.
The Cash-3M contango tightened to a two-week low of $… per mton (a 4.4% annualized yield) from $… per mton previously.