LME price up but still with bearish momentum; US slab and foundry demand outlook deteriorates

1. LME prices remains near one-month lows after reversing early day gains.

2. China’s aluminum price holds near five-week low

3. ALERT! – US SLAB. SLAB PREMIUM CORRECTION AHEAD? North American slab market faces multiple challenges in 2023.

4. ALERT! – US PFA. BEARISH PFA. Demand contraction weighting on PFA premium outlook.

5. ALERT! – MEXICO FRP. Klöckner & Co acquires Mexico’s service center leader NMM.

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6. LME Cash–3M contango narrows to a one-week low, no longer attractive for financing deals.