LME price decline pauses on rumors of potential LME consultation; European spot billet premiums drop further
September 29, 2022
EUROPEAN BILLET ALERT.
1. LME aluminum price up... % as market digests rumors of a potential LME consultation about Russian aluminum. However, prices experienced a... % intraday plunge after the exchange clarified that it continues to explore all options, including no action.
2. EUROPEAN BILLET ALERT. DECLINE RESUMES: European spot billet premiums drop to as low as $... per mton.
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3. China’s aluminum prices unable to sustain gains at the upper end of the trading range.
4. LME Cash–3M contango narrows amid steeper October–November backwardation and rising canceled warrants.