1. LME price retreats sharply from the key cyclical resistance zone of $2,700-2,750 per mton.
Aluminum prices underperformed the industrial commodities complex today as market participants took profits from Friday’s 5.5% rally after China announced it will…
2. RERUN: SPECIAL ALERT! – CHINA ALUMINUM. “MR TRUMP, WE ARE WILLING TO NEGOTIATE:” China cancels export rebates on sheet, plate, foil and extrusions.
Effective December 1, 2024, China will cancel the 13% VAT rebate (approx. $… per mton) on exports of aluminum flat-rolled products and a extrusions. In our view, the announcement testifies…
3. China’s aluminum price fall continues.
Prices held near one-month lows reached Friday. SHFE front-month aluminum prices closed today’s session down 0.9% at…
4. RERUN: ALERT! – EUROPEAN BILLET. SOFTENING CONTINUES: European billet spot premium below $… across the board.
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5. LME Cash–3M contango eases from one-month lows, remains below breakeven levels for profitable inventory financing (bearish P1020 premiums).
The Cash-3M contango widened to $… per mton (a… % annualized yield) from Friday’s one-month low of $…