1. LME price still trading near $… per mton while the Federal Reserve signals continuation of restrictive monetary conditions (bearish for aluminum demand and prices).
2. China’s aluminum prices up and testing short-term technical resistance.
3. ALERT! – EUROPEAN BILLET. FALLING FURTHER: European billet premiums fall further.
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4. UPDATE! – WORLD SMELTING PRODUCTION COST. NEW LOWS: World’s aluminum smelting costs down to new 22-month lows.
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5. LME Cash-3M contango widens and remains attractive while far end spreads tighten to three-month lows.