US offshore billet imports plunge on structural factors; LME price narrow range trading continues

1. LME prices remain stuck in a narrow range amid prevailing demand concerns.

2. ALERT! – US BILLET. MAY NEVER BE THE SAME: US offshore billet imports plunged… % y/y in July on structural factors.

3. SHFE aluminum prices continue to face technical resistance.

4. LME Cash-3M contango still wide amid ample metal availability.