LME prices fall after highest close in ten years; MW spot premium gaps up to... cent/lb with more upside seen
1. LME prices fell from the highest closing level in ten years, as demand concerns intensified across the commodity complex; short-term technical momentum still bullish.
2. SHFE aluminum prices fall after nearing three-month highs.
3. US MW PREMIUM ALERT. UNPRECEDENTED RALLY, MORE UPSIDE SEEN: MW spot premium skyrockets to a fresh all-time high of... cent/lb, with more gains seen ahead.
4. CHINA SCRAP ALERT. YET ANOTHER RECYCLING EXPANSION: Shandong Nanshan to expand aluminum recycling capacity.
5. LME Cash–3M contango widens to a one-week high as conditions ease slightly after August.
More details in full report.