LME prices down amid mounting concerns about Chinese demand outlook

September 20, 2021

1. LME prices down to one-week lows amid fears of a potential real-state-induced financial and/or economic crisis in China. Key short-term technical support still in place at $... per mton.

2. The Shanghai Futures Exchange (SHFE) was closed today due to the Mid-Autumn Festival. Trading will resume on Wednesday, September 22.

3. Cash–3M contango widens on loose nearby conditions.

4. RERUN: US UBC ALERT. ITS “GREEN GOLD”: UBC discounts widen to... cent/lb below MWTP; this is a new profitability record.

5. RERUN: US FOIL ALERT. FINAL DETERMINATIONS: US announces final dumping/subsidy rates on foil imports from Russia, Brazil, Armenia, Oman and Turkey.

6. RERUN: US BILLET AND SLAB ALERT. FIRST NORTH AMERICAN SUPER GREEN BILLET & SLAB BRAND.

More details in full report.

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