Demand across the rest of Europe is steady for now.
The US Treasury’s decision to extend the wind-down period for Rusal contacts is also negating any bullish sentiment. On Friday October 12, the US Treasury extended the deadline for a second time
- this time to December 12.
“The original extension [to November] was already clouding some bearish sentiment because people are becoming more confident that the sanctions will be lifted,” a trader said.
“There is tightness still, which is why we are at respectably high levels, but overall the demand is worrying. There is less...