LME prices ease to one-week lows; US billet premiums gap up to new all-time highs
1. LME prices fall toward $... per mton as oil price volatility continues. However, supply-side uncertainty remains supportive in the very short term.
2. SHFE aluminum prices lacking strength to sustain levels above... yuan per mton.
3. US BILLET ALERT. NEW ALL-TIME RECORD: US spot billet premiums gap up to... cent/lb.
4. NORTH AMERICAN BILLET ALERT. SHAWINIGAN EXPANDS GREEN BILLET SUPPLY: Shawinigan Aluminum’s recycling center inaugurated today.
5. US ACR SCRAP ALERT. DOMESTIC UPPER HAND FOR ACRs. ACR domestic pricing beating export market. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
6. RERUN: RUSSIAN EXPORT TAX ALERT. NOISE RISING: Despite confusion on the Russian export tax, some clarity can be found.
7. LME Cash–3M contango narrows but remains relatively loose; small backwardation still in place after October.
More details in full report.