LME prices still stuck around $…per mton; LME long-term backwardation signaling producer selling

1. LME prices close higher but remain stuck around $2,400 per mton. Short-term technical indicators continue to signal a correction targeting $2,270–$2,200 per mton.

2. SHFE aluminum prices rise to a one-week high, outperforming LME prices.

3. LME Cash–3M contango narrows from three-week highs; long-term backwardations signal producer selling.

More details in full report.