LME price hovers around $… per mton; Weak European slab demand conditions linger

1. LME price regains ground lost yesterday, still lacking near-term direction.

2. China’s aluminum price returns toward technical resistance levels.

3. ALERT! – EUROPE SLAB. HEADWINDS: Weak European slab demand conditions expected to extend into Q1 2023.

4. LME Cash–3M contango narrows further, remains unattractive for cash-and-carry deals.