LME prices down as sanctions fears diminish; LME backwardation eases amid inventory buildups

1. LME prices fell further from 13-year highs. Prices still stuck within the key resistance zone of $… per mton.

2. China’s aluminum prices fall.

3. GREEN ALUMINUM MONITOR: More companies boost their recycling capabilities and scrap utilization.

For more details, please see “HARBOR’s Green Aluminum Monitor” released earlier today.

4. LME Cash–3M backwardation eases amid fresh inventory buildups; extreme spread tightness still bearish for P1020 premiums.

More details in full report.