Market Data
January 12, 2024
CRU aluminum: Challenges ahead as 2024 kicks off
Written by Matthew Abrams
The LME three-month price was moving down again on the morning of Jan. 12 and was last seen trading at $2,215 per metric ton (mt). We expect a test of the $2,200/mt support to be imminent. A break would be bearish as it could mean a complete reversal of the gains seen in December, although we still estimate that as being unlikely.
SHFE cash was also broadly stable again on Friday. The cash contract settled at RMB19,065/mt and last traded at RMB19,080/mt.
