1. LME prices fall the most in four months after failing to break above the $2,500 per mton resistance level. Door could open for re-test of $… per mton which is the low end of the current trading range.
2. China’s aluminum prices retreat to a two-week low.
3. RERUN: ALERT! – EUROPE ALUMINUM. DEMAND AT RISK: European energy crisis is more bearish for aluminum demand than for production at this point.
4. EUROPEAN SMELTING ALERT. SMALL BITE: Alcoa to idle one potline in Norway amid energy crisis and world oversupply.
5. ALERT! – EUROPE BILLET. THE BIG TURKISH BILLET WAVE: Booming Turkish secondary billet expansions to impact Europe and North America.
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6. US SCRAP ALERT. NARROWER SPREADS: A356 scrap wheels and 6063 new bare scrap discounts tighten.
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7. LME Cash–3M backwardation remains steep as tightness ahead of September intensifies.