LME price unchanged as momentum weakens; European foundry market downturn extending

LME price unchanged as momentum weakens; European foundry market downturn extending

1. LME price unable to go back up.

2. China’s aluminum price rebounds after testing two-week lows.

3. ALERT! - EUROPE PFA. DECLINE REMAINS ON: European PFA downturn now extending into early 2023.

4. RERUN: ALERT! – EUROPEAN SCRAP. SOME SUPPORT EMERGES: Prices for secondary scrap and ingot rise.

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

5. ALERT! - US ALUMINUM SCRAP. DEMAND FOR JANUARY UNITS EMERGES.

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

6. ALERT! - SECONDARY SCRAP. FIVE-MONTH HIGHS: Twitch prices pushed up further by demand in China.

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

7. LME Cash–3M contango nearly the widest in two years, approaching breakeven levels for cash-and-carry deals.