LME price down; Europe’s PFA market appetite improves; Brazil can demand contracts

March 29, 2023

ALERT! – US/BRAZIL ROLLING MILL.

1. LME price retreats from four-week highs as technical reselling emerges. Prices remain within HARBOR’s forecasted short-term trading range of $... per mton.

2. China’s aluminum prices face medium-term technical resistance.

3. ALERT! – EUROPE PFA. TALE OF TWO HALVES? European PFA market appetite strengthens in the first half of the year, but H2 2023 uncertainty lingers.

4. ALERT! – US SLAB. WIND DOWN: Slab demand correction extending into Q2.

5. ALERT! – US/BRAZIL ROLLING MILL. BRAZIL CAN DEMAND CONTRACTS: Aluminum beverage can sales fall in Brazil, Ball announces another line stoppage.

For more details, subscribe to HARBOR’s specialized Aluminum Rolled Products Intelligence Report.

6. LME Cash–3M contango narrows but loose conditions persist; far-end contango no longer attractive for medium-term cash-and-carry deals.

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