SPECIAL ALERT! – US UBC
1. LME prices hardly changed since reaching two-week lows on Wednesday, closing November down 0.6% m/m. Short-term technical momentum inclined toward prices testing the low end of the $2,500-2,750 per mton trading range.
LME Cash aluminum prices closed today’s session up 0.2% or $4 per mton, at $… Prices were virtually unchanged for the second consecutive session amid…
2. China’s aluminum price closes at a two-month low ahead of this weekend’s semis export tax rebate removal.
SHFE front-month aluminum prices closed today’s session at a new two-month low, marginally down at… yuan per mton.
3. SPECIAL ALERT! – US UBC. TRUMP TARIFFS BULLISH FOR UBC: Likely short and long-term impact on the UBC market.
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4. The LME Cash–3M contango narrows sharply to one-month lows, uneconomic for financing deals (bearish P1020 premiums).
The Cash-3M contango tightened to a seven-week low of $… per mton (a 2.8% annualized yield) from yesterday’s contango of $… per mton amid a sharp tightening in conditions after December.
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