ALERT! & ANALYSIS! WORLD BILLET & SLAB.
1. LME prices hardly changed on Friday after a steep reversal earlier in the week; a medium-term downward trend remains in place.
2. SHFE aluminum prices holding near the low end of their one-year-old trading range.
3. ALERT! & ANALYSIS! WORLD BILLET & SLAB. WORLD’S LARGEST AND GREENEST: Rio Tinto buys 50% of Matalco for $… million.
4. ALERT! – EUROPEAN BILLET. FALL CONTINUES: Spot and Q3 contractual billet premiums decline extends further, impacting Q4 early contractual negotiations.
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5. ALERT! – EUROPE SCRAP. NEW LOWS: Weak demand continues to weigh on D226 prices.
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6. ALERT! – MEXICO SECONDARY SCRAP. TWO TALES: Demand for old cast units picks up slightly, price range widens even further.
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7. LME Cash-3M contango narrows to three-week lows, remains supportive of inventory financing for the most competitive players.