LME price still stuck around seven-month lows; Cash-3M backwardation reaches $… per mton

1. LME price continues to gravitate around $… per mton while medium-term technical indicators deteriorate further.

2. China’s aluminum prices keep finding technical support near… yuan per mton.

3. ALERT! – MEXICO P1020. DECLINE CONTINUES: Mexico’s P1020 spot and contractual premiums fall to new lows.

4. LME Cash-3M backwardation intensifies further to a fifteen-month high of $… per mton amid steep front-month tightness (bearish for P1020 premiums).