LME price up to $… per mton; US PFA premiums fall to single digits

1. LME prices bounce toward the $… per mton zone.

2. China’s aluminum price near six-week low zone.

3. ALERT! – US PFA. BEARISH TONE: 2024 contractual PFA premiums decline to single digits.

4. ALERT! – US UBC. STALLED: US UBC 2024 contract talks at a stalemate.

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5. SPECIAL ANALYSIS! – ALUMINA. SECURING ALUMINA: Rusal buys stake in Chinese alumina refinery.

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6. LME Cash-3M contango tightens further, uneconomic for cash-and-carry deals (bearish premiums).