1. LME aluminum prices outperformed today amid reports of a potential proposal to impose restrictions on EU imports of Russian aluminum; range-trading continues within the $2,500-2,750 per mton zone.
LME Cash aluminum prices rallied today by 1.9% or $… per mton, closing at $… per mton. Meanwhile, LME 3M prices climbed by 1.8%, closing at $… per mton. Aluminum outperformed the industrial commodities complex amid…
2. ALERT! – LME PRICE & EUROPEAN PREMIUMS. LESS BULLISH IF ANYTHING: EU may propose next week a phased ban on Russian aluminum.
The EU is considering a phased ban on Russian aluminum imports as part of its 16th sanctions package. The proposal which could…
3. LME Cash-3M contango tightens to four-month lows (bearish P1020 premiums).
The Cash-3M contango tightened further to a four-month low of $… per mton (a 0.9% annualized yield) from $… per mton previously. Nearby spreads conditions tightened even further as the…
4. The Shanghai Futures Exchange (SHFE) was closed due to China’s week-long New Year holiday. Trading will resume on Wednesday, February 5, 2024.