Subscription inquiry

Erratic LME movement around $1,740 per mton threshold; Backwardation intensifies; European billet premiums fall further

Executive Summary

1. LME prices still hovering around $1,740 per mton amid erratic movements; door still technically open for $1,680 per mton.

2. LME Cash–3M backwardation steepens to a new ten-month high amid potential December short-squeeze (bearish spot premiums).

3. EUROPEAN BILLET UPDATE. Regional billet demand contraction, high billet inventories, and bearish market expectations cause extruders to reduce Q1 volumes and push billet premiums toward... per mton.

4. MW GREEN ALUMINUM PREMIUM UPDATE. HARBOR World’s FIRST US MW P1020 GREEN ALUMINUM SPOT PREMIUM Update.

5. China’s aluminum prices unable to break above the 200-day moving average zone.

More details in full report.