LME prices down; US extrusion press utilization at lowest level in two years
February 2, 2023
ALERT! – US BILLET.
1. LME price remains stuck below $... per mton, falling along with oil and copper prices amid ongoing demand concerns.
2. China’s aluminum prices stuck at the upper end of their six-month trading range.
3. ALERT! – US BILLET. PRESS UTILIZATION RATES FALL: US extrusion press utilization fall to.. % while offshore billet offers spike on open US import arbitrage.
4. LME Cash–3M contango still slightly below break-even levels for inventory financing