LME price up from support levels; Bearish pressures on US slab and European PFA premiums

1. LME prices were up today amid still short-term range-trading conditions.

2. ALERT! – US SLAB. DOWNSIDE STILL OPEN: US slab upcharge decline potential ahead.

3. ALERT! – EUROPE PFA. PAST ITS PEAK: Bearish pressure on European PFA spot premiums to linger as auto demand weakens.

4. LME Cash-3M contango widens to $… per mton and continues to support financing deals amid ample metal availability.

5. SHFE aluminum prices climb toward the upper end of the one-year-old trading range.