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.