1. LME price holds steady amid short-term technical support; a short-term upward trend is still in place targeting $2,750 per mton.
Prices rebounded from one-week intraday lows. LME 3M aluminum prices closed unchanged from yesterday at $… per mton. Prices avoided a fifth consecutive daily decline as they…
2. ALERT! – US UBC. SECTION 232-INDUCED BONANZA: US UBC discounts reach… cent/lb, fresh all-time record high.
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3. SPECIAL ALERT! – US EXTRUSION SCRAP. SCRAP SPREADS DOUBLED: Extrusion scrap discounts approaching all-time record-highs.
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4. UPDATE! – WORLD SMELTING PRODUCTION COSTS. INCREASING: World aluminum smelting costs increase to a five-month high.
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5. LME Cash-3M contango continues to widen only marginally, remains uneconomic for inventory financing deals (bearish P1020 premiums).
The Cash-3M contango widened to $… per mton from Wednesday’s $… per mton. The August–September contango widened to $..per mton from
6. China’s aluminum prices regain some ground as technical support prevails.
SHFE front-month aluminum closed today’s session marginally higher at… yuan per mton ($… per mton, ex-VAT), extending gains in after-hours to…