LME price collapse continues, door is open for $… per mton

1. LME PRICE ALERT. AS WARNED ABOUT: LME price plummets to $… per mton, Chinese coal price cap could imply LME prices below $… per mton.

As anticipated by HARBOR and confirmed by several cyclical bearish warnings, LME 3M aluminum prices plunged today to an intraday low of $… per mton, down 6% or $174 per mton from yesterday. 

2. China’s aluminum prices plunge to a three-month low, almost reaching a key technical threshold.

3. CME MW premium financials fall to seven-week lows.

4. LME Cash–3M contango widens above $… per mton.

More details in full report.