Backwardated forward spreads on LME spur P1020 sell-off in Europe

Looming backwardations on London Metal Exchange spreads sparked a sell-off of P1020 aluminium in Europe on Thursday October 21, with participants concerned about carrying metal into 2022.

Fastmarkets assessed the aluminium P1020A premium, in-whs dup Rotterdam at $250-270 per tonne on Thursday, down from $285-300 per tonne on Wednesday October 20. The decrease marks the assessment's lowest...

Published

Justin Yang

Alice Mason

October 22, 2021

08:00 GMT

London