LME price falls 2.2% w/w; European billet premium supported by Red Sea turmoil
January 19, 2024
ALERT! – EUROPEAN BILLET.
1. LME prices down 2.2% or $... per mton w/w as technical momentum remains bearish.
2. China’s aluminum prices drop to new five-week lows as technical outlook deteriorates.
3. ALERT! – EUROPEAN BILLET. Q1 RED SEA SURGE CONTINUES: Low end of European spot and March premium rise to $... per mton.
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4. ALERT! – US SECONDARY 356.1. TWO YEAR LOWS: Secondary 356.1 prices down to $.../lb.
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5. LME Cash-3M contango narrows to three-week lows but holds at attractive levels for cash-and-carry deals.