LME price up but still below resistance zone
December 8, 2022
ALERT! – EUROPEAN SCRAP.
1. LME price still unable to breach technical resistance zone of $... per mton.
2. China’s aluminum price remains capped by medium-term technical resistance.
3. LME Cash–3M contango still wide.
4. RERUN: ALERT! – EUROPEAN SCRAP. NO DEMAND IN SIGHT: Large UBC and segregated scrap consumers out of the market until end of Q1 2023.
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