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

 
EUROPEAN BILLET ALERT.

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.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to HARBOR’s specialized European Billet Intelligence Report.

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.

 

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