LME price range-trades with thin volume; SHFE price falls to a three-month low

1. LME price still in a short-term range-trading pattern, closing October with a slight monthly gain.

2. China’s aluminum prices down to a three-month low.

3. RERUN: ALERT! – EUROPEAN P1020. PLUNGE CONTINUES: European P1020 premiums down to 16-month lows.

For more details, please see HARBOR’s ALERT! – EUROPEAN P1020 released earlier today.

4. ALERT! – MEXICO SCRAP. MIXED TRENDS: Mexico’s secondary scrap demand improves, but extrusion scrap demand deteriorates.

For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

5. LME Cash–3M contango halves amid a steeper backwardation after December (bearish premiums).