LME price up but unable to reach fresh highs

ALERT! – NO MERGER.
 

1. LME prices closed marginally higher as range-trading conditions persist within $2,500 the $2,750 per mton range.

LME 3M aluminum prices closed the session up 0.3% or $… per mton, at a one-month high of $… per mton. Aluminum prices were mainly supported by…

2. China’s aluminum prices continue to test technical resistance.

SHFE front-month aluminum prices closed today’s session up 0.8% at… yuan per mton Prices were supported by oil prices reaching…

3. ALERT! – NO MERGER. NO MERGER: Alba and Ma’aden discontinue partnership agreement talks.

Ma’aden Alba have decided to discontinue discussions regarding the potential combination of their upstream aluminum businesses. Reasons for this mutual decision…

4. UPDATE! – ALUMINA PRICE. DECLINE CONTINUES: Alumina fall reaches $….

For more details, subscribe to HARBOR’s “Alumina & Bauxite Intelligence ” reports.

5. LME Cash-3M and far-end contangos widen from multi-month lows but remain uneconomic for inventory financing deals (bearish P1020 premiums).

The Cash-3M contango eased slightly to $… per mton (a 2.6% annualized yield), after a tight three-month low of $… per mton on Friday.

 

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