LME price up… % to a one-week high amid talk of smelting cuts in Yunnan; not a sure bet more US Tariffs are coming

1. LME price rallies with light volumes amid talk of potential Yunnan production cuts. Prices remain within HARBOR’s identified trading range of $… per mton.

2. China’s aluminum prices rise to one-week highs amid talk of smelting cuts.

3. ALERT! – CHINESE SMELTING. PRODUCTION CUTS NOT HAPPENING YET. Potential smelting cuts in Yunnan not expected to change market balance amid restarts elsewhere.

4. ALERT! – US TARIFFS MAY END UP NOT HAPPENING. NOT A GIVEN: Imposition of Tariffs or Restrictions on US Imports of Russian Aluminum Not a Sure Bet.

5. ALERT! – US SLAB. BEARISH HEADWINDS. North American slab market contraction ongoing.

6. LME Cash–3M contango narrows slightly from seven-year highs, amid ample metal supply.