MW duty diluted by surging P1020 exports to US; Aluminum shipments resume at Sunndal and Mosjøen

1. LME price stuck in range-trading mode as demand deterioration overshadows European supply-side fears.

2. ALERT! – EUROPEAN BILLET & SLAB. STRIKE ENDS: Aluminum shipments resume at Norway’s Sunndal and Mosjøen smelters.

3. ALERT! – US MW P1020 PREMIUM. MW DUTY DILUTION: Canadian and Australian P1020 exports to US surge, embedded duty in MW premium falls to 2.6%.

4. RERUN: US PFA ALERT. A QUESTION OF INDEXES: North American 2023 PFA negotiations currently underway with consumers looking for formula changes.

5. China’s aluminum prices test technical resistance at seven-week high.

6. LME Cash–3M backwardation eases from five-month high but tightness persists ahead of November.