LME prices advance to a one-month high; European slab market cautious

1. LME price tests a one-month intraday high inside our identified $… per mton trading range.

2. EUROPE SLAB ALERT. CAUTIOUS APPROACH: Energy surcharge and shorter-term contracts.

3. GREEN ALUMINUM ALERT. GREEN UPGRADE: Hydro to enhance recycling operations in Henderson, Ky.

4. China’s aluminum prices up to a three-week high, nearing the high end of expected trading range.

5. LME Cash–3M spread remains in backwardation amid steep tightness after October.