Bearish LME counterwave reverses last week’s rally; European P1020 premiums fall further

1. LME Cash price down... % so far this week.

2. ALERT! – EUROPEAN P1020. ROTTERDAM FALLS FURTHER: European P1020 premium fall reaches $... per mton.

3. ALERT! - US EXTRUSIONS. AD/CVD PETITION: US extruders file petition for AD/CVD duties against 15 countries.

For more details, please see HARBOR’s “Alert! – US Extrusions” released yesterday.

4. RERUN: ALERT! – US BILLET. OFFERS AT SINGLE DIGITS: 2024 contractual billet upcharge offers coming as low as... cent/lb.

For more details, please see HARBOR’s “Alert! – US Billet” released yesterday.

5. ALERT! – US ZORBA. UNDERSUPPLIED: US Zorba shrugs off auto strike for now.

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

6. LME Cash-3M contango narrows from one-week highs, while far-end spreads tighten again (unsupportive for premiums).

7. The Shanghai Futures Exchange (SHFE) was closed today due to China’s National Day weeklong holiday. Trading will resume on Monday, October 9.