LME price retreats as range-trading mode continues; European billet premiums reach new lows

NOTE: HARBOR’s Daily Aluminum Commentary will not be published on Monday nor Tuesday, December 26–27. The LME will be closed due to the observed Christmas and Boxing Day Holidays.

1. LME price down as range-trading mode continues; technical momentum remains bearish.

2. China’s aluminum price up but lacking relevant upside amid demand worries.

3. ALERT! – EUROPEAN BILLET. NEW LOWS: European spot and February billet contractual premiums fall to as low as $... per mton

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4. ALERT! – EUROPE PFA. NO RUSH: European PFA consumers in no rush to jump into the spot market yet.

5. RERUN: ALERT! – US WIRE ROD. OUTLIER: US EC rod market among the brightness of the value-added product family.

6. ALERT! EUROPEAN SCRAP. YEAR-END PAUSE: Consumers, dealers and traders step out of the market amid year-end holidays.

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7. GREEN ALUMINUM MONITOR. Japan raising the bar on aluminum can recycling.

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8. LME Cash–3M contango tightens as a nearby backwardation emerges ahead of January.