LME price down; Bearish storm hits Europe’s cansheet market; US mating season begins
1. LME prices fall for a second-consecutive session. The door remains open for $... per mton.
2. China’s aluminum prices unable to sustain two-week highs amid technical selling.
3. RERUN: ALERT! – CHINA ALUMINUM. RECORD PRODUCTION: China’s aluminum production hitting records despite energy curbs.
For more details, please see HARBOR’s “Alert! China Aluminum” released last Friday.
4. ALERT! – EUROPE CANSHEET MARKET. BEARISH STORM HITS CANSHEET EUROPE: Shortages of CO2 in Europe may significantly reduce cansheet demand.
For more details, please subscribe to HARBOR’s specialized Aluminum Rolled Products Intelligence Report.
5. RERUN: EUROPEAN BILLET ALERT. CORRECTION PAUSES: European spot billet premium decline pauses while demand contraction accelerates.
To see HARBOR’s full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
6. RERUN: ALERT! – US BILLET. MATING SEASON ON: US 2023 billet deals coming in at... cent/lb; offers are as low as... cent/lb.
7. US PFA ALERT. MATING SEASON ON: PFA spot demand is null as 2023 negotiations start.
8. LME Cash–3M contango widens to double digits on easing October–November backwardation; remains uneconomic for cash-and-carry deals.