LME price finally up after eight sessions of losses; European slab market at a crossroad
1. LME price up $... per mton after losing $... per mton in an eight-session long streak of losses.
2. China’s aluminum prices up to a one-week high.
3. EUROPE SLAB ALERT. SHIFTING PRIORITIES: European slab market is adjusting to changing market dynamics amid 2023 contractual negotiations.
4. EUROPEAN BILLET ALERT. FALL REACHES $... European billet premiums fall to $... per mton; demand contraction overshadows domestic billet curtailments.
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5. ALUMINA ALERT. BEARISH SENTIMENT: Alumina price correction expected in China.
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6. LME Cash–3M contango widens further as October–November backwardation nearly dissipates.