LME checkpoint: Prices retreat while warehouse stocks remain low

The London Metal Exchange (LME) cash aluminum settlement price fell 12% between June 2 and June 18 after reaching its highest level in more than four years, while the US Midwest Premium moved lower from record highs established in late May.

The pullback followed reports of a US-Iran agreement and early indications that traffic through the Strait of Hormuz could resume. Several physical market indicators remained near historically tight levels even as outright prices and the gap between cash aluminum prices and forward contracts narrowed sharply.

Nicholas Bell

Nicholas brings over half a decade of experience covering metals markets, pricing trends, and supply chain dynamics. Prior to joining AMU, he reported on aluminum, high-temperature scrap, and ferro-alloy markets at Argus Media, with additional coverage of minor metals and rare earths. His work has built deep expertise in North American metals pricing and trade flows. A native of Houston, Nicholas holds a bachelor’s degree in Media Production and an MBA with a concentration in Finance, both from the University of Houston.