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LME price rallies after reaching HARBOR's downside target and ahead of volatile week

US SLAB ALERT.

1. LME prices rallied today by 2.5%, avoided a weekly loss and closed October on a technically bullish note.

2. US SLAB ALERT. BULLISH MODE: US slab premiums jump on strong demand, supply constraints, and scrap tightness.

3. EUROPE PFA ALERT. Strong auto production supporting Q4 foundry demand. Contract premium range for 2021 widens to... euros.

4. EUROPEAN SCRAP MARKET. Asian extrusion scrap units offered in Spain; Secondary scrap prices rise for November delivery. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

5. MEXICO SECONDARY ALERT. TIGHTNESS INTENSIFIES: Mexico's old cast prices jump to two-year highs; A380 trading as high as... cent/lb. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

6. US SECONDARY ALERT. DISCOUNTS GONE: 2021 contracts mostly signed at flat. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

7. US UBC ALERT. UBC flows seen tightening ahead. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

8. LME Cash–3M contango tightens to near zero as backwardation intensifies ahead of January (bearish for P1020 spot premiums).

9. China’s aluminum prices rebound after failing to break below technical support.

More details in full report.