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LME price opens Nov with decline amid further demand deterioration


1. LME prices fell again amid fresh evidence of world demand contraction.

2. China’s aluminum price holds near two-week highs despite domestic end-user demand contraction.

3. ALERT! – US SLAB. UNDER PRESSURE: US spot slab premiums expected to remain under pressure in 2024.

4. LME Cash-3M contango widens to one-week high as the December backwardation dissipates (bearish premiums).