1. LME prices fell as the Fed’s Chair signaled interest rates will likely remain elevated for longer (bearish aluminum demand and LME prices).
2. ALERT! – EUROPEAN P1020. FALLS FURTHER: Rotterdam P1020 premiums drop to fresh seven-month lows.
3. ALERT! – EUROPEAN BILLET. NEW LOWS: EU regional billet spot premiums reach $… per mton.
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4. ALERT! – EUROPE WIRE ROD. INCREASING COMPETITION: European EC rod production set to rise to multi-year highs in 2024.
5. ALERT! – US OLD SHEET. SOME EXPORT SUPPORT: Offshore buyers prop up old sheet as MWTP falls.
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6. LME Cash-3M contango widens from two-month lows.
7. SHFE aluminum prices continue to hover around short-term resistance levels.