LME prices near $1,730 per mton; European billet demand grows further; LME contango narrows
1. LME prices slightly down after several days of gains. Still targeting $1,830 per mton.
2. HARBOR’s Green Aluminum Upcharge is assessed at zero.
3. EUROPEAN BILLET UPDATE. Billet demand recovery to continue at least until the end of the year; Q4 contractual premiums with upward pressure. To see our full European Billet Market Intel and Premiums assessment please subscribe to our specialized European Billet Intelligence Report.
4. BRAZIL ROLLING MILL ALERT. Brazil initiates formal investigation into Chinese sheet, plate, and foil imports. To see our full market intel on flat rolled products please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
5. LME Cash–3M contango narrows from a two-month high; ongoing producer hedging continues to tighten longer-term spreads.
6. China’s aluminum prices retest two-and-half-year high.
More details in full report.