Aluminum prices declined overall in May. However, near the end of the month, they appeared to hit bottom and began to trade sideways. Conflicting macroeconomic and geopolitical factors continue to pressure markets, resulting in unclear direction and price trends. Shanghai Lockdowns Return, Compounding Uncertainty Shanghai’s reopening proved short-lived as the city stumbled back into lockdown this week. Following a surge in COVID cases, restrictions and mass testing are returning to most areas of the city. Shanghai first went into strict lockdown…
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