LME price up within range zone; European EC rod contract premiums with bearish outlook

1. LME prices up but still inside the prevailing short-term trading range.

2. SHFE aluminum prices retreat from recent one-year highs.

3. ALERT! – EUROPE WIRE ROD. BEARISH: 2024 European EC rod contract premiums set to decline.

4. UPDATE! – WORLD SMELTING PRODUCTION COST. RISING COSTS: World aluminum smelting costs tick higher.

For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.

5. LME Cash-3M contango narrows to two-week lows but remains supportive for cash-and-carry deals.