Booming smelting projects in Indonesia; LME price falls amid bearish momentum
1. LME prices fell as technical indicators continue to signal decline toward $... per mton before year’s end.
2. ALERT! – ALUMINUM PRODUCTION EXPANSION. ANOTHER NEW GREEN SMELTER COMING: Nanshan to build a... million mtpy green primary aluminum smelter in Indonesia.
3. RERUN: ALERT! – EUROPE CANSHEET MARKET. BEARISH STORM HITS CANSHEET EUROPE: Shortages of CO2 in Europe may significantly reduce cansheet demand.
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4. China’s aluminum prices remain in range-trading mode.
5. US WIRE ROD ALERT. GAP UP: US EC rod spot upcharge jumps, 2023 contract premiums set to increase.
6. GREEN ALUMINUM MONITOR: Packaging sector and the recycling rate.
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7. LME Cash–3M contango at the widest in two months, remains uneconomic for cash-and-carry deals.