1. ALERT! – LME PRICE OUTLOOK. LME prices fell today to multi-month low of $… per mton and accumulated a $… per mton plunge since their peak in March. If significant buying doesn’t kick in on Monday, a fall below $… per mton will open the door to $… per mton.
2. China’s aluminum prices extend decline below medium-term support level; a new leg down could be unleashed next week.
3. LME Cash–3M contango widens to $… per mton; far end backwardations narrow to eight-month lows.
4. ALUMINA ALERT. NO ISSUES: Russian smelters continue to operate amid world alumina surplus.
5. EUROPEAN BILLET ALERT. NOW A BUYER’S MARKET? Extruders in no rush to close Q3 contracts as billet premium momentum wanes.
To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
6. EUROPEAN SCRAP ALERT. PLUMMETING: European secondary ingot and scrap prices in free fall.
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7. EUROPEAN ROLLING MILL ALERT. FOIL TIGHTNESS PERSISTS: Negotiations for 2023 start earlier than usual.
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8. US ROLLING MILL ALERT. Gränges will produce battery cathode foil in the US.
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9. US UBC ALERT. US UBC oversupply keeps price discounts wide.
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10. US EXTRUSION SCRAP ALERT. DEMAND STARTING TO WEAKEN? Extrusion scrap demand weakens amid plummeting MWTP.
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11. MEXICO SCRAP ALERT. SELL-OFF ACROSS THE BOARD: Scrap prices fall amid plummeting demand and increased supply.
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