LME price down as selling returns; US P1020 spot premium gaps down while US billet upcharge weakens

1. LME prices down as selling emerges above $… per mton

2. ALERT! – US MW PREMIUM. SIGNS OF EXHAUSTION: MW premium gaps down from record-highs amid growing metal availability and sharp LME price decline.

3. US BILLET ALERT. FURTHER WEAKENING: US spot billet upcharge declines to… cent/lb.

4. China’s aluminum prices retreat further, remaining below medium-term technical resistance.

5. ALERT! – EUROPEAN ROLLING MILL. BOOMING IMPORTS INTO EUROPE: Coil conversion prices down, especially in southern Europe.

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6. LME Cash–3M contango tightens to three-week low; LME warrant cancelations continue in Asia.