LME price bearish momentum continues; European smelting cutbacks fall short of ongoing demand contraction
1. LME price falls to fresh seventeen-month low, down... % since late August and targeting $... per mton before end of year.
2. ALERT! – EUROPE ALUMINUM. CUTBACKS FALL SHORT: Europe curtails another 130k mtpy of primary capacity, but metal availability increases further.
3. RERUN. ALERT! – EUROPEAN ROLLING MILL. COMMON ALLOY PRICES DIVE: Conversion prices on common alloy down on weakening demand and uncertain outlook.
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4. China’s aluminum prices unchanged; range-trading mode continues.
5. LME Cash–3M contango widens to double digits, as tightness ahead of November slowly dissipates.