1. LME price is still in bullish mode but is testing support at $… per mton.
Prices testing short-term technical support. LME 3M aluminum prices closed today’s session down… % or $… at $… per mton. Prices fell during the second half of today’s session, pulling back from intraday highs of $…
2. ALERT! – EUROPEAN BILLET. LOSING MOMENTUM: EU extrusion demand weakens amid an uncertain Q4.
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3. ALERT! – MEXICO UBC. US RETURNS: US interest for Mexican UBC units returns.
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4. LME Cash-3M spread tightens to zero again amid concentrated warrant holdings and futures positions (bearish P1020 premiums).
The Cash-3M contango tightened today to $… per mton, from Friday’s $… per mton contango. Most of the tightening results from the Cash–August spread turning to a $…
5. China’s aluminum prices hovering around technical support level of… yuan per mton.
China’s aluminum prices were hardly changed today amid thin volumes. SHFE front-month aluminum price closed today’s session virtually unchanged at… yuan per mton ($… per mton, ex-VAT), holding around two-week lows. Prices briefly climbed…