1. LME price maintains support at $2,800-2,850 per mton.
LME 3M aluminum prices closed today at $… per mton,down… % or $… per mton from yesterday. Prices increased early in the session to intraday levels as high as $… per mton, remaining buoyed by remarks from Fed officials signaling an interest rate cut in December. Nevertheless…
2. ALERT! – SLAB. IT’S HAPPENING: ADI’s SLP slab remelter ramp-up is taking off.
ADI’s SLP aluminum slab shipments continue to increase and are set to reach 10k mton per month starting next year.
3. ALERT! – US A380.1. STUCK IN THE MUD: Slight A380.1 price increases in October diluted by discounting.
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4. LME Cash-3M contango holds at $30 per mton, supportive of cash-and-carry deals.
The Cash-3M contango narrowed to $… per mton (a… % annualized yield), from yesterday’s $… per mton on Friday. Today, the December–January contango narrowed marginally to $…
5. China’s aluminum prices hold above recent two-week lows, trading inside HARBOR’s identified target range.
Prices pared gains in after-hours but held well above technical support. SHFE front-month aluminum prices closed today at 21,420 yuan per mton ($2,669 per mton, ex-VAT), rising by 0.3% from yesterday. Prices increased for the first time in three sessions, underpinned by…