1. LME prices fell on Friday but still closed the week up… % and above $2,500 per mton; the confirmation of a medium-term technically bullish signal is still pending.
LME 3M aluminum prices closed the session down… % or $… per mton, at $… per mton. Prices initially plunged to as low as $… per mton amid selling pressure across the base metals complex, following news of Israel’s attack on Iran. Nevertheless, aluminum prices…
2. China’s aluminum prices rise to a fresh three-month high, closing the week up… %.
SHFE front-month aluminum closed today’s session up 1.5% at… yuan per mton ($… per mton, ex VAT), reaching a fresh three-month closing high. Prices tested early in the session an intraday high of…
3. ALERT! – EUROPEAN BILLET. HIGHER LOWS: Low end of European spot billet premiums up to $… /ton.
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4. ALERT! – EUROPE D226 AND SECONDARY SCRAP. COLD SUMMER: European demand weakens further, deliveries lose pace.
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5. LME Cash-3M returns to a tight contango; June-July backwardations persist (bearish P1020 premiums).The Cash-3M spread closed the week in a tight contango of $…