1. LME Cash down to $…per mton as China demand sentiment deteriorates further amid disappointing housing stimulus.
LME Cash aluminum prices closed the session at $… per mton, down 1.2% or $…
2. China’s aluminum prices fall below resistance zone amid disappointment over stimulus measures.
SHFE front-month aluminum closed the session marginally up at…
3. ALERT! – US COMMON ALLOY. US 3105 & 5052 SPOT PRICES FALL FURTHER: US DC mills cut pricing further, foreign mills’ prices pressured out of the market.
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4. ALERT! – EUROPE SCRAP PROCESSING. RACE TO GROW SCRAP SUPPLY: Sorting boom raises demand for lower-quality grades.
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5. LME Cash–3M contango widens to $37 per mton, still unattractive for inventory financing.
The Cash-3M contango continued to approach Monday’s two-month high after widening today to $…