LME prices down and unable to close above $... per mton; US billet spot premium declines to low... cent/lb
1. LME prices yet to confirm a new leg down toward $3,000 per mton.
2. China’s aluminum prices fall after nearing a two-week high.
3. RERUN: US BILLET ALERT. LOW 30’s: High end of US spot billet upcharge softens to 31.0 cent/lb.
4. US SLAB ALERT. GROWING STRONG: North American slab imports have more than doubled.
5. US MW PREMIUM ALERT. NEW RECORD HIGHS: MW premium reaches 39.75-40.00 cent/lb.
6. LME Cash–3M contango widens but remains near the tightest in two weeks, far-end backwardations steepen (unsupportive of cash-and-carry deals).