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LME range trading continues; US billet mating season with a buyers’ market flavor


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.