MW premium plummets the most on record; LME prices down $... per mton in less than three weeks
1. LME prices fall 5.9% w/w and are stuck inside HARBOR’s price target zone of $... per mton
2. China’s aluminum prices close at a four-month low, testing important technical support.
3. US MW PREMIUM ALERT. BUBBLE BURST: MW premiums plummets the most on record amid bearish storm.
4. EUROPEAN BILLET UPDATE. WEAKNESS EMERGES: Spot billet demand softens as bearish factors accumulate.
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5. LME Cash–3M contango the widest since late June; long-term backwardations continue easing.
More details in full report.