LME Cash price down to two-week lows; Geopolitical billet supply risks gain the center stage of mating season

1. LME Cash price falls back below $… per mton as technical indicators deteriorate.

2. SHFE aluminum price falls to a two-week low.

3. ALERT! – US BILLET. ONE OF A KIND: Long 2024 US contractual billet mating season shaping to be “one of a kind”.

4. LME Cash-3M contango widens marginally, remains insufficient for cash-and-carry deals (bearish premiums).