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LME prices on the brink of a breakout toward $1,670; Collapse of MW duty-unpaid premiums “killing” demand for some scrap items in Mexico


Executive Summary

1. LME PRICE ALERT. Price rally continues amid bullish speculative positioning and growing confidence that a cycle trough for world manufacturing activity is likely behind us.

2. LME June–July tightness continues to ease; fresh inventory inflows continue into LME Malaysia warehouses.

3. MEXICO P1020 AND SCRAP ALERT. Collapse of journalistic MW duty-unpaid “killing” demand for some scrap items in Mexico.

4. MW Duty-Unpaid P1020 premium assessed today at... cent/lb.

5. HARBOR’s Implicit Green Aluminum Upcharge assessed today at zero.

6. China’s aluminum prices lose some momentum after hitting a three-month high.

More details in full report.