1. LME price still gravitating around $2,900 per mton.
LME 3M aluminum prices closed today at $… per mton, up… % or $… per mton from yesterday. LME prices tested a one-week intraday high of $… per mton bolstered by China’s SHFE aluminum prices rallying to a three-and-a-half-year high, given China’s…
2. China’s aluminum prices rally to a three-and-a-half-year high, reaching HARBOR’s bullish target.
SHFE front-month aluminum prices closed today at a three-and-a-half-year high of… yuan per mton ($… per mton, ex-VAT), up… % from yesterday, and extended gains in after-hours trading to as high as… yuan per mton ($… per mton, ex-VAT). Prices extended this week’s rally by as much as…
3. LME Cash-3M contango holds near the widest in six months; inventory inflows resume in Malaysian LME warehouses.
The Cash-3M contango narrowed marginally to $… per mton (a… % annualized yield), from yesterday’s six-month highs of $… per mton. The Cash-November backwardation intensified to $… per mton from $… per mton, while November–December contango narrowed to $… per mton from $… per mton, and the December–January contango widened to $… per mton from $… per mton.
4. ALERT! – EUROPEAN EXTRUSION SCRAP. WHEN SECONDARY BILLET SUPPLIERS IN PAIN: Dealers struggle placing units with less buyers in sight.
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