LME price down as the $... per mton range trading mode continues; European billet premiums unchanged
December 20, 2023
ALERT! – EUROPEAN BILLET.
1. LME price falls again amid technical resistance within the multi-month trading range of $... per mton.
2. China’s aluminum price capped by technical selling.
3. ALERT! – EUROPEAN BILLET. SHORT-TERM UPSIDE: European billet premiums unchanged amid some demand improvement and Red Sea issues.
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4. LME Cash-3M contango nearly the widest in fifteen years amid a surplus of metal.