ALERT! – US WIRE ROD.
October 8, 2024
1. LME Cash price plunges 3.4% today on heavy profit-taking, almost reaching our expected short-term support zone of $2,550-2,500 per mton.
LME Cash aluminum prices fell today by 3.4% or $90 per mton, closing at $…
2. China’s aluminum prices trimmed gains after testing a new three-month high.
Prices resumed trading higher before encountering disappointment over stimulus measures. SHFE front-month aluminum prices ended the session at…
3. ALERT! – US WIRE ROD. BULLISH 2025 OUTLOOK FOR WIRE ROD: US EC rod premium set to increase, green surcharge emerging.
4. LME Cash–3M contango at the widest in one week as October’s backwardation eases somewhat.
The Cash-3M contango widened to a one-week high of $… per mton (a 2.6% annualized yield), from $…