LME price falls to fresh five-week lows amid steeper nearby contango and declining world smelting production costs
February 16, 2023
US MW PREMIUM ALERT.
1. LME price reaches fresh five-week lows below $... per mton and then bounces.
2. US MW PREMIUM ALERT. BEARISH CLOUD: MW premium unchanged as bearish pressure intensifies.
3. LME Cash–3M contango steepens amid further improvement of metal availability.
4. ALERT! – LME & SMELTING COSTS. FALLING SMELTING COSTS: Plunge in Chinese coal prices pushing down world smelting costs.
5. ALERT! – EUROPEAN BILLET. LOW END INCHES UP: Low end of the European spot billet premium range inches for first time in a year.
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6. China’s aluminum prices rise after testing one-month lows.