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LME price slumps to fresh lows; Bearish headwinds for US MW and billet premiums

ALERT! – US MW PREMIUM from HARBOR’s Market Intelligence Unit.

1. LME prices continue to decline inside of HARBOR’s forecasted $... per mton zone.

2. China’s aluminum prices fall to the low-end of their multimonth-old trading range.

3. ALERT! – US MW PREMIUM from HARBOR’s Market Intelligence Unit. BEARISH: MW discounts for term deals widen amid plunge in replacement costs and poor demand.

4. ALERT! – US BILLET. FURTHER DOWN: US 2023 contractual billet premium falls as low as... cent/lb.

5. ALERT! – EUROPEAN P1020. TRADING SIDEWAYS: More supply-side factors turning bearish for European P1020 duty-paid premiums.

6. ALERT! – EUROPE SLAB. POOR DEMAND: Challenging European spot slab demand conditions.

7. ALERT! – EUROPEAN BILLET. SPOT BELOW Q3: European billet spot market at a discount vs Q3.

To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.

8. ALERT! – ALUMINA. BEARISH CLOUDS: Australia’s Kwinana refinery on track to restore alumina operations to full capacity (bearish for alumina prices).

For more details, subscribe to HARBOR’s “Alumina & Bauxite Intelligence” reports.

9. LME Cash–3M contango narrows to a five-month low as tightness ahead of June intensifies.