1. LME Cash price declines 2.8% w/w, approaching the $2,550-2,500 per mton support zone amid weak demand sentiment.
LME Cash aluminum prices closed today at $… per mton, down 0.8% or $21 per mton, falling to a nearly two-week low after US economic data showed that manufacturing activity contracted in October by the…
2. ALERT! – EUROPEAN BILLET. ANOTHER TUMBLE: EU billet premiums decline to as low as $560 per mton.
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3. ALERT! – EUROPE SCRAP. NO RELIEF: Unprofitable margins and lack of contractual deals continue.
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4. LME Cash–3M contango widens toward $30 per mton but remains too tight for cash-and-carry deals (bearish spot premiums).
The Cash-3M contango widened to $… per mton (a 4.7% annualized yield) from yesterday’s three-week low of $…
5. China’s aluminum prices trimmed gains amid overseas demand concerns.
SHFE front-month aluminum prices closed today’s session up 0.2% at… yuan per mton…