LME prices fall... % on war de-escalation hopes; Europe PFA premiums don’t change as market seeks direction
1. LME prices fell the most in three weeks to as low as $... per mton amid heavy speculative selling triggered by hopes of a geopolitical crisis de-escalation. Key interim support for LME prices seen at around $... per mton.
2. LME Cash–3M contango narrows slightly; long-term backwardation eases to smallest in three-months.
3. China’s aluminum prices retreat toward two-week lows.
4. EUROPE PFA ALERT. LINGERING LIMBO: Spot PFA premiums unchanged as market seeks direction.
5. US UBC ALERT. UBC discounts are the tightest in a year.
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