LME prices still stuck in narrow range; European billet premiums unchanged amid some supply uncertainty

1. LME prices hardly changed as demand concerns limit upward momentum, still trading close to the low end of the $... per mton range that has predominated in the last month.

2. China’s aluminum prices up but still unable to regain upward technical momentum.

3. WORLD ROLLING MILL ALERT. DEFINITIVE DUTIES SET: EU imposes final antidumping duties on Chinese converter foil imports.

4. EUROPEAN BILLET ALERT. DOUBLE WHAMMY: Billet supply tightness and uncertainty increase.

5. ALUMINUM PRODUCTION UPDATE: Iceland’s power issues to impact smelting operations and billet production by only... ktpy, according to HARBOR estimates.

6. LME Cash–3M backwardation eases amid looser conditions ahead of January (still bearish for P1020 premiums).

More details in full report.