LME prices hover around $…per mton; North American offshore slab imports take off

1. LME prices increased today, but short-term technical indicators remain bearish. Correction targeting $… per mton remains on.

2. SHFE aluminum prices rebound after nearing three-week low.

3. US SLAB ALERT. SLAB’s NEW ERA: Offshore slab imports into North America take off.

4. LME Cash–3M contango widens sharply above $20 per mton; backwardations persist at the far end of the curve.

More details in full report.