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LME prices stable above support; depressed foundry and billet demand in Europe lingers; LME contangos the widest since 2014

EUROPEAN BILLET UPDATE.

Executive Summary

1. Aluminum LME price outperformed the base metals complex amid technical support.

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

3. LME longer-term contangos widen to highest since 2014; warrant cancelations continue in Asia.

4. EUROPE PFA ALERT. A slow and challenging road ahead seen for PFA demand.

5. EUROPEAN BILLET UPDATE. Decline resumes: Billet spot premiums down again as depressed demand lingers. To see our full European Billet Market Intel and Premiums assessment please see our specialized European Billet Intelligence Report.

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

7. China’s aluminum prices struggle to sustain short-term upward momentum.

More details in full report.