LME price unchanged while oil enters bear market territory; European P1020 premium falls to $... per mton

1. LME prices failed to regain ground amid ongoing demand contraction and oil prices officially entering into bear market territory.

2. China’s aluminum price holds below technical resistance levels.

3. ALERT! – EUROPE P1020. FALL CONTINUES: European P1020 duty-paid premium falls to $... per mton.

4. ALERT! – US UBC 2024 CONTRACTS. GETTING NOWHERE: US UBC talks for 2024 business with no progress.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

5. ALERT! - US CANSHEET. DESTOCKING LAST DAYS? Growing evidence of NA can destocking wrapping up.

6. LME Cash-3M contango tightens further as the December backwardation intensifies (bearish premiums).