February 15, 2024
1. LME price drops on inventory buildups and aluminum demand concerns.
2. LME Cash-3M contango remains tight while inventory inflows pick up in Asia; uneconomic forward spreads are bearish for P1020 premiums worldwide.
3. The Shanghai Futures Exchange (SHFE) was closed due to China’s week-long New Year holiday. Trading will resume on Monday, February 19, 2024.