LME price falls toward one-month lows; European billet premiums fall further on depressed spot demand

1. LME prices continue to slide toward the low end of their recent trading range, closing today at a one-month low.

2. LME Cash-3M contango widens to $... per mton, reaching attractive levels for cash-and-carry deals.

3. China’s aluminum price up after test of three-month lows.

4. ALERT! – EUROPEAN BILLET. Q1 2024 NEGOTIATIONS: Billet premiums decline in the UK, European buyers opting for quarterly contracts.

To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.

5. ALERT! – MEXICO UBC. RALLY CONTINUES: UBC prices rise again as consumers and suppliers struggle to find enough volume.

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