LME price up to $... per mton; US PFA premiums fall to single digits
October 25, 2023
ALERT! – US PFA.
1. LME prices bounce toward the $... per mton zone.
2. China’s aluminum price near six-week low zone.
3. ALERT! – US PFA. BEARISH TONE: 2024 contractual PFA premiums decline to single digits.
4. ALERT! – US UBC. STALLED: US UBC 2024 contract talks at a stalemate.
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5. SPECIAL ANALYSIS! – ALUMINA. SECURING ALUMINA: Rusal buys stake in Chinese alumina refinery.
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6. LME Cash-3M contango tightens further, uneconomic for cash-and-carry deals (bearish premiums).