LME price drops further; Bearish pressure on US Billet & PFA premiums
December 7, 2022
ALERT! – US BILLET.
1. LME price continues to pull back amid a failed technical breakout attempt.
2. China’s aluminum price down and below medium-term technical resistance.
3. ALERT! – US BILLET. DOWN: US spot billet premiums decline to as low as... cent/lb.
4. ALERT! – US PFA. BEARISHNESS: Bearish pressure building up on US spot PFA premiums.
5. LME Cash–3M contango at two-year highs.