LME range-trading mode continues despite weekly decline; European billet premium correction continues
1. LME price maintains range-trading behavior despite declining 3% w/w. Another key bearish warning signal activated as oil prices switch to bearish mode.
2. EUROPEAN BILLET ALERT. FALL-OFF: European spot billet premiums drop to as low as $... per mton.
To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
3. US SCRAP ALERT. SLIGTHLY NARROWER: Discounts for EC wire and A356 scrap have narrowed amid lower MWTP and firmer demand.
For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
4. ALERT! – US FOIL. BATTERY MATERIALS BOOM: Lotte Aluminum to produce cathode foil in the US amid booming demand ahead for EV battery materials.
For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
5. China’s aluminum prices face resistance near three-week highs.
6. LME Cash–3M backwardation widens again amid persistent October–November tightness.