LME price reaches $... per mton, underlying downward trend intact
1. As expected, LME price reaches $... per mton; underlying downward trend intact.
2. China’s aluminum price rises toward medium-term technical resistance levels.
3. RERUN: ALERT! – EUROPEAN BILLET. DECLINE RESUMES: European billet premium slide reaches $... per mton.
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4. RERUN: ALERT! – EUROPE MILL-GRADE SCRAP. DELAYED: Annual mill-grade scrap deals late amid poor demand and lack of visibility.
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5. ALERT! – MEXICO UBC. SHORT-LIVED: Mexican UBC prices retreat.
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6. LME Cash-3M contango remains uneconomic to profitably finance cash-and-carry deals (bearish premiums).