LME price still hovering around $... per mton; Demand contraction accelerates in Europe
Special Note: HARBOR’s Daily Aluminum Commentary will not be published Friday, September 16.
1. LME price was supported today by news of Chinese smelting cuts. Technical momentum remains bearish and the door is open for $2,000 per mton.
2. ALERT! – EUROPE ALUMINUM. GRIM DEMAND OUTLOOK: European demand destruction by far outweighs the potential of additional smelting curtailments.
3. EUROPE SCRAP ALERT. NO DEMAND: Spot activity disappears across Europe amid sharp underlying demand deterioration.
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4. China’s aluminum prices bounce back and reach technical resistance levels.
5. LME Cash–3M contango tightens despite continued inventory deliveries in Asia.
6. GREEN ALUMINUM MONITOR: Aluminum's Latest Recycling Technology.
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7. US UBC ALERT. SHORT LIVED: Demand for spot UBCs fades.
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