LME price unchanged while technicals deteriorate; Norwegian strike forces halt of billet shipments from Sunndal
August 22, 2022
ALERT! - EUROPEAN BILLET.
1. LME price still unable to bounce back toward upper end of trading range.
2. China’s aluminum prices unable to climb above technical resistance.
3. ALERT! - EUROPEAN BILLET. HALTED SHIPMENTS: Hydro to halt aluminum shipments from Sunndal amid strike action.
4. LME Cash–3M backwardation doubles as conditions tighten sharply ahead of September.