1. LME prices fall… % after reaching new three-year highs yesterday. We see support at the $2,800 per mton level.
LME 3M aluminum prices closed today at $… per mton,down $… per mton or… % from yesterday. Prices retreated from yesterday’s 42-month intraday high of $… per mton as profit-taking selling emerged across the commodity complex amid investor concerns about an…
2. ALERT! – EUROPEAN EXTRUSION SCRAP. NOT CHASING: Fading secondary demand trims scrap needs.
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3. LME Cash-3M contango widens to two-month highs, still in single-digits.
The Cash-3M contango widened to a two-month high of $… per mton, from yesterday’s $… per mton. The November-December contango steepened to $… per mton from $… per mton, while the December–January contango widened to $…
4. China’s aluminum prices drop from eleven-month highs.
SHFE front-month aluminum prices closed today’s session down 0.1% at… yuan per mton ($… per mton, ex-VAT) , extending losses in after-hours to… yuan per mton ($… per mton, ex-VAT). Prices slipped from eleven-month highs amid…