LME price hovers around $... per mton; European P1020 and billet premiums fall continues

1. LME price up but closes the week with losses.

2. China’s aluminum price up and approaching technical resistance levels.

3. ALERT! - EUROPEAN P1020. 16-MONTH LOWS: European P1020 premium correction continues.

4. ALERT! – EUROPEAN BILLET. IN THE $600s: Q1 2023 premiums decline to as low as $... per mton.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to HARBOR’s specialized European Billet Intelligence Report.

5. ALERT! – EUROPEAN SCRAP. LAYOFFS ANNOUNCED: A plunge in demand and low availability of raw materials are hitting the automotive industry hard.

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

6. ALERT! - US SCRAP. WIDER DISCOUNTS: Consumers widening their scrap A.356 wheels discounts for the first time in 6 weeks.

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

7. LME Cash–3M contango narrows slightly, remains unattractive for cash-and-carry deals.