ALERT! – US BILLET.
1. LME price range trades with a bearish bias, falling 2% w/w amid demand contraction and a strong US dollar.
2. SHFE aluminum prices fall but remain at the upper end of trading range.
3. ALERT! – US BILLET. BILLET PREMIUM DOWN: US billet spot upcharge declines to… cent/lb.
4. ALERT! – EUROPEAN BILLET. DOWN TO $…: EU October’s billet premiums down to as low as $…
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5. ALERT! EUROPEAN SCRAP. BEARISH COMEBACK: Market participants returned from the summer break facing worse-than-expected demand prospects.
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6. ALERT! – US ZORBA. TIGTHER: US zorba pricing is closing the gap with exports.
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7. ALERT! – MEXICO SCRAP. REGIONAL COMPETITION: Northeast and Bajio competition for 6063 scrap units heats up.
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8. LME Cash-3M contango narrows to one-week lows, still supportive for cash-and-carry deals.