LME price closes week 2% down; LME nearby backwardation intensifies

 

1. LME prices fall to short-term support of $… per mton after failing to conquer $2,600 per mton this week.

2. SHFE aluminum prices find support at two-week lows.

3. LME Cash–September backwardation intensifies as warrant availability tightens.

4. SEASONAL BREAK CONTINUES: Some European secondary volume arriving to North America as suppliers look for alternative homes. For more details, please subscribe to our specialized Europe Aluminum Scrap Intelligence Report.

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