LME price fails to close week above $... per mton; European premiums’ downward trend accelerates
1. LME price sells off after testing a one-week intraday high, confirms bearish technical breakout targeting $... per mton.
2. HARBOR FIRST. PerenniAL incorporating in Mexico.
PerenniAL will incorporate in Mexico, as it focuses on expanding its value-added aluminum product sales in the country.
3. MEXICO SECONDARY INGOT ALERT. NOT THE TYPICAL MATING SEASON: Mexico’s secondary alloy mating season set to be “unique.”
For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
4. EUROPEAN P1020 ALERT. PLUNGE ACCELERATES: European P1020 premiums drop to seven-month lows.
5. RERUN: EUROPEAN BILLET ALERT. FALL REACHES $...: European billet premiums fall to $... per mton; demand contraction overshadows domestic billet curtailments.
To see our full European Billet Market Intel and Premiums assessment, please subscribe to HARBOR’s specialized European Billet Intelligence Report.
6. ALERT! – EUROPEAN ROLLING MILL. DEMAND DETERIORATION CONTINUES: Bearish common alloy sheet/coil demand and outlook in Europe.
For more details, please subscribe to HARBOR’s specialized Aluminum Rolled Products Intelligence Report.
7. EUROPEAN SCRAP ALERT. DEMAND DESTRUCTION: Uncertainty hitting demand faster than supply.
To see our full market intel on the European scrap market, please subscribe to HARBOR’s specialized Europe Scrap Intelligence Report.
8. EUROPE WIRE ROD ALERT. IMPROVING OUTLOOK: European energy crisis may offer further support for EC wire rod demand ahead.
9. CHINESE ALUMINUM UPDATE. SICHUAN RESTARTS: Up to 800k mtpy of smelting capacity set to restart as Sichuan lifts energy restrictions.
10. China’s aluminum prices return to the upper end of their trading range.
11. LME Cash–3M contango widens further, as inventory buildups continue in Asia.