LME price ends week below key resistance zone; European billet premiums free fall continues

1. LME price ends the week down.

2. China’s aluminum price is down and below medium-term technical resistance.

3. ALERT! – SECTION 232 DUTIES. SECTION 232 TO STAY: US confirms no intent to remove Section 232 duties amid WTO ruling.

4. ALERT! – EUROPEAN BILLET. FREE FALL CONTINUES: European spot and Q1 billet premiums fall extends.

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

5. ALERT! – EUROPEAN SCRAP. NO DEMAND IN SIGHT: Large UBC and segregated scrap consumers out of the market until end of Q1 2023.

For more details, please subscribe to HARBOR’s specialized Europe Scrap Intelligence Report.

6. ALERT! – US CANSHEET. US CANSHEET DEMAND BEARISH: Falling can demand impacting cansheet demand and price outlook.

For more details, please subscribe to HARBOR’s specialized Aluminum Rolled Products Intelligence Report.

7. ALERT! – US SCRAP. QUICKLY FILLED: Consumers have already filled up January orders; now quoting February delivery.

For more details, please subscribe to HARBOR’s specialized US and Mexico Aluminum Scrap Intelligence Report

8. GREEN ALUMINUM MONITOR. Rolling mills’ latest green initiatives.

9. LME Cash–3M contango loosens further; yields approaching breakeven level.