LME price faces profit-taking while producer selling intensifies; Magnesium crisis is also impacting the US billet market
1. LME prices hardly changed for a second-consecutive session amid profit-taking and producer selling.
2. Producer selling creates the biggest backwardation since 2007.
3. US BILLET & SLAB ALERT. ADVANCED 2022 WARNING: Major billet supplier warns about potential curtailment of production amid lack of magnesium.
4. SHFE aluminum prices fall after reaching an all-time high yesterday.
More details in full report.