Canada's export surge to the US intensifies and reaches fresh all-time highs; LME price steady at six-month highs
August 5, 2020
US BILLET ALERT.
Executive Summary
1. LME prices drop marginally amid profit-taking selling, still trading around $1,770 per mton.
2. Canada's export surge to the US intensifies and reaches an all-time record high.
3. US BILLET ALERT. Demand for billet continues to recover, but extruders buying mainly from existing contracts and so far only buying in the spot market for small volumes.
4. HARBOR’s Green Aluminum Upcharge is assessed at zero.
5. LME Cash–3M contango narrows slightly but remains supportive for P1020 premiums.
6. China’s aluminum prices fall after testing a three-week high.
More details in full report.