LME price unchanged amid technical resistance; Poor spot market appetite in Europe’s foundry market

1. LME prices failed to extend short-term gains as technical resistance holds at $… per mton.

2. China’s aluminum prices testing resistance at upper end of current trading range.

3. EUROPE PFA ALERT. UNCHANGED FOR NOW: European PFA spot premiums unchanged; downside risks linger.

4. LME Cash–3M spread still in backwardation despite some easing in the October–November spread.