LME Cash price down to two-week lows; Geopolitical billet supply risks gain the center stage of mating season
October 10, 2023
ALERT! – US BILLET.
1. LME Cash price falls back below $... per mton as technical indicators deteriorate.
2. SHFE aluminum price falls to a two-week low.
3. ALERT! – US BILLET. ONE OF A KIND: Long 2024 US contractual billet mating season shaping to be “one of a kind”.
4. LME Cash-3M contango widens marginally, remains insufficient for cash-and-carry deals (bearish premiums).