LME price down 10% so far 2024; European premiums rising on Red Sea issues

1. LME Cash aluminum price falls to $... per mton, now down 10% or $... per mton so far in 2024.

2. China’s aluminum prices down to interim technical support zone, falling by... % so far this year.

3. ALERT! – EUROPE P1020. FURTHER UP: Europe P1020 premiums rise to four-month highs on Red Sea disruptions.

4. ALERT! – EUROPEAN PFA. RED SEA BULLISH WAVE: European full spot PFA premiums rise to as high as $540 per mton as Red Sea issues bite.

5. ALERT! – US A380.1. STEADY AT 25-MONTH LOWS: A380.1 alloy spot market remains tepid.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

6. ALERT! – US SCRAP WHEELS. SUPPLY SETS THE FLOOR: Scrap wheels prices increase amid lower availability.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

7. LME Cash-3M contango narrows to a one-week low but remains profitable for new cash-and-carry deals amid market surplus.