LME price still stuck below technical levels; European FRP conversion prices fall on weak demand
1. LME prices were practically unchanged for a second consecutive session as demand contraction and a strong US dollar prevent additional upside.
2. SHFE aluminum prices rise toward recent one-year highs.
3. ALERT! – EUROPE ROLLING MILL. FALLING FURTHER: Conversion prices down again in Europe.
For more details, subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
4. HARBOR FIRST! – Constellium announces leadership changes in North America.
Buddy Stemple, the current CEO of Constellium Ravenswood, will assume the role of President for Muscle Shoals & Bowling Green, effective September 11, 2023. In his new role, Mr. Stemple will report directly to the company’s EVP and COO, Ingrid Joerg.
Since 2014, Mr. Stemple has been the CEO of Constellium Rolled Products Ravenswood and currently serves as Chair of the Aluminum Association.
5. UPDATE! – WORLD SMELTING PRODUCTION COST. TICKING UP: World aluminum smelting cost stabilization continues.
For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.
6. LME Cash-3M contango narrows but remains supportive for cash-and-carry deals.