LME price closes month in bearish mode; LME Cash–3M backwardation intensifies and pressures down world premiums

 
ALERT! – EUROPE BILLET.

1. LME prices closed August with bearish momentum and test low end of the range.

2. China’s aluminum prices find support at a two-week low but remain in a medium-term downward trend.

3. LME Cash–3M backwardation intensifies to double digits again. Bearish premiums.

4. RERUN: ALERT! – EUROPE BILLET. THE BIG TURKISH BILLET WAVE: Booming Turkish secondary billet expansions to impact Europe and North America.

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