China's import arbitrage window for aluminium may remain open until the end of May amid expectations of a stronger price performance on the Shanghai Futures Exchange relative to that on the London Metal Exchange, Fastmarkets understands.
"I think the import window won't close in the short term because the Covid-19 pandemic overseas has not yet reached a turning point. You can see that LME stocks are rising and macroeconomic data for ex-China regions is not good either. The US dollar also remains in high ground, which could continue to pressure LME prices," Fastmarkets aluminum analyst Cao Yang said on Tuesday May 19.IHS Markit's final manufacturing purchasing managers' Index (PMI) for the eurozone sank to a record low of 33.4 in...