LME price decline pauses on rumors of potential LME consultation; European spot billet premiums drop further

1. LME aluminum price up… % as market digests rumors of a potential LME consultation about Russian aluminum. However, prices experienced a… % intraday plunge after the exchange clarified that it continues to explore all options, including no action.

2. EUROPEAN BILLET ALERT. DECLINE RESUMES: European spot billet premiums drop to as low as $… per mton.

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3. China’s aluminum prices unable to sustain gains at the upper end of the trading range.

4. LME Cash–3M contango narrows amid steeper October–November backwardation and rising canceled warrants.