ALERT & ANALYSIS!– CHINA ALUMINUM.
LME price closes week below $… per mton; China restarts… million mtpy of smelting capacity
1. LME prices rose on Friday but closed the week again below $… per mton.
2. SHFE aluminum prices unable to regain ground amid technical resistance.
3. ALERT & ANALYSIS!– CHINA ALUMINUM. MASSIVE CHINESE SMELTING RESTARTS:… million mtpy of smelting capacity restarted in China.
4. ALERT! – EUROPE ALUMINUM. AGAINST BAN OR SANCTIONS: European Consumers Oppose any LME Ban or Sanctions on Russian Metal.
5. ALERT! – EUROPEAN BILLET. NEW BILLET LOWS: European billet premiums reach $… per mton.
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6. ALERT! – EUROPE SCRAP. WORSENING: The holiday season kicks in with bearish pressure on scrap and secondary ingot prices.
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7. ALERT! – MEXICO SECONDARY SCRAP. IMPORTS FROM THE US WINNING: Imported old cast units have the upper hand in Mexico’s Northeast Hub.
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8. LME Cash-3M contango tightens to one-month lows.