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LME prices climbed to fresh five-week highs and continued to challenge the $… resistance zone. Technical confirmation of recent gains would unleash additional short-term upside.
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China’s aluminum price faces technical resistance near one-month highs.
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ALERT! – EUROPE SHIPPING. BULLISH EUROPEAN PREMIUMS: Shipping carriers paused traffic through the Suez Canal until further notice.
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ALERT! – US UBC. HEATING UP: Winter buying tightens UBC spreads, upside seen limited.
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5. ALERT! – MEXICO SCRAP MARKET. Mexican scrap players hit by cash flow constraints, scant demand, and slower generation.
6. LME Cash-3M contango widens above $… per mton amid a spike in inflows into LME Asia warehouses.
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