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Biggest weekly rally in six months opens door for more gains; European Foundry premiums down to record

EUROPE PFA ALERT.

Executive Summary

Special Note: HARBOR’s Daily Aluminum Commentary will not be published on Monday, May 25, due to the Memorial day holiday in the US. The LME will also be closed due to a bank holiday.

1. LME 3M aluminum closes up 3% on week and above... per mton

2. EUROPE PFA ALERT. Duty-paid Foundry spot premiums plummet to as low as... per mton as regional automotive demand implosion lingers.

3. LME Cash–3M contango narrows to the lowest level in two months but remains supportive for spot premiums.

4. China’s aluminum prices close down again but remain near their upward target.

More details in full report.