LME price plunge continues and on the brink of confirming a new leg down; MW P1020 premium down to a four-month low
1. Door for a sooner-than-expected visit of $... per mton could officially open tomorrow, as LME prices close below $... per mton for the second day in a row amid end-user demand contraction signals from the US and Europe.
2. US MW PREMIUM ALERT. NEW LOWS: MW premium confirmed as low as... cent/lb.
3. SPECIAL ALERT! – US HIGH PURITY ALUMINUM. A MATTER OF NATIONAL SECURITY: Hawesville’s curtailment leaves the US and allies without key aluminum supply for defense and aerospace purposes.
4. EUROPEAN BILLET ALERT. FALLS FURTHER: European billet spot premiums decline extends.
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5. GREEN ALUMINUM ALERT. UBC RECYCLING RATE EFFORTS: Can makers fund initiative to increase recycling rates.
6. China’s aluminum prices reach six-month lows.
7. LME Cash–3M contango narrows to one-month lows; far end contangos still insufficient for cash-and-carry deals.