LME price expected bounce continues; Brazil’s P1020 spot premiums at two-year lows
March 28, 2023
ALERT! – BRAZIL.
1. LME price tests three-week highs, trading within HARBOR’s forecasted short-term trading range of $... per mton.
2. China’s aluminum prices nearing the upper end of their seven-month-old trading range.
3. ALERT! – BRAZIL. WEAKENING SPIRAL: Brazil’s spot P1020 premiums at two-year lows.
4. UPDATE! – WORLD SMELTING PRODUCTION COST. PLUNGING: World aluminum production costs at a ten-month low.
For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.
5. LME Cash–3M contango yield remains near multi-year highs, far-end contango tightens below break-even levels.