LME range trading continues; US billet mating season with a buyers’ market flavor
July 27, 2022
US BILLET ALERT.
1. LME price range-trading continues.
2. US BILLET ALERT. BEARISH OMEN? Early 2023 contractual mating season negotiations signal a bearish spot billet premium outlook.
3. US PFA ALERT. CARRY OVER: Some 2022 contractual PFA volumes destined to carry over into next year, again.
4. China’s aluminum prices attempt to consolidate near a two-week high.
5. LME Cash–3M backwardation persists despite easing tightness ahead of September.