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LME price up slightly within current range; Bearish market factors gain steam in Europe and the US


1. LME prices struggle to consolidate gains still holding below expected short-term technical resistance.

2. SHFE aluminum prices rebound toward recent one-year highs.

3. ALERT! – EUROPEAN P1020. THE FALL CONTINUES: Rotterdam P1020 premiums fall further.

4. ALERT! – EUROPE PFA. FALLS FURTHER: European PFA spot premiums reach $... per mton.

5. ALERT! – US PFA. RISING UNCERTAINTY: Looming UAW strike seen as another bearish factor.

6. ALERT! – US MLCs. EXPORT ARBITRAGE OPEN: Clean scrap exports pick up in a slow US market.

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

7. LME Cash-3M contango remains wide and supportive for cash-and-carry deals.