LME price ends down and below $...., China buying mill scrap grades in North America

1. LME price closed week at three-week lows as bearish demand expectations prevail.

2. China’s aluminum prices fall to six-week lows, posting the biggest weekly drop since February.

3. ALERT! – CHINA BUYING SCRAP IN NORTH AMERICA. WHAT IF CHINA… UBCs? Mill-grade scrap continues flowing to China from NA, UBC could be the next scrap item.

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

4. ALERT! – EUROPE SCRAP AND SECONDARY MARKET. ASIA BITES: Export pressure on Europe's D226, zorba and twitch prices mounts.

For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.

5. RERUN: ALERT! – EUROPE PFA. BEARISH BACKWARDATION: 2024 European PFA contractual upcharges fall below spot levels.

For more details, please see HARBOR’s “Alert! – Europe PFA” released yesterday.

6. LME Cash-3M contango remains insufficient for cash-and-carry deals (bearish premiums).