LME price falls back below $2,300 per mton; LME contangos widen amid fresh metal buildups
October 3, 2023
ALERT! –MEXICO BILLET.
1. LME prices continue to reverse last week’s rally amid oversupply and demand outlook conditions.
2. LME Cash-3M contango widens further amid fresh metal inflows; tight nearby and far-end spreads are still bearish for premiums.
3. RERUN: ALERT! –MEXICO BILLET. PLUMMETS: Mexico's Veracruz billet premium gaps down to $...
For more details, please see HARBOR’s “Alert! – Mexico Billet” released yesterday.
4. The Shanghai Futures Exchange (SHFE) was closed today due to China’s National Day weeklong holiday. Trading will resume on Monday, October 9.