1. LME price still unable to confirm gains above the $… per mton resistance level.
2. ALERT! – US BILLET. Long 2023 contractual mating season amid growing global billet oversupply and deteriorating demand conditions.
3. MJP PREMIUM ALERT. TWO-YEAR LOW: MJP quarterly contractual and spot premiums continue weakening to new lows, as anticipated by HARBOR.
4. EUROPEAN BILLET ALERT. European spot billet premiums deteriorate to as low as $… per mton.
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5. The Shanghai Futures Exchange (SHFE) was closed today due to China’s National Day holiday. Trading will resume on Monday, October 10.
6. LME Cash–October spread now in backwardation; Cash–3M contango tightens further.