LME falls and approaches $2,000 per mton zone; US billet demand deteriorates further

LME falls and approaches $2,000 per mton zone; US billet demand deteriorates further

1. LME Cash aluminum prices closed at a 29-month low of $… per mton, further approaching our identified target zone of $… per mton.

2. SHFE aluminum prices continue testing the low end of the multi-month trading range.

3. ALERT! – US BILLET. YIELDING TO BEARISH PRESSURE: US extruders reduce workforce, billet spot offers fall to… cent/lb.

4. ALERT! – US ZORBA. LOCAL DEMAND SAGS: US zorba falls to ten-month lows.

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5. LME Cash-3M contango remains near $… per mton as metal availability grows further.