LME price tests the $... resistance zone; Contango widens further amid more LME buildups

1. LME prices climbed to fresh five-week highs and continued to challenge the $... resistance zone. Technical confirmation of recent gains would unleash additional short-term upside.

2. China’s aluminum price faces technical resistance near one-month highs.

3. ALERT! – EUROPE SHIPPING. BULLISH EUROPEAN PREMIUMS: Shipping carriers paused traffic through the Suez Canal until further notice.

4. ALERT! – US UBC. HEATING UP: Winter buying tightens UBC spreads, upside seen limited.

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

5. ALERT! – MEXICO SCRAP MARKET. Mexican scrap players hit by cash flow constraints, scant demand, and slower generation.

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

6. LME Cash-3M contango widens above $... per mton amid a spike in inflows into LME Asia warehouses.