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LME price up but below key level; European P1020 spot premiums up to a two-month high


1. LME prices hardly changed w/w, as rally finds technical resistance at seven-month highs. Market still seen as vulnerable to short-term rallies, but an eventual reversion to the $... -per-mton range continues to be expected.

2. China’s aluminum prices hold below medium-term technical resistance.

3. ALERT! – EUROPEAN P1020. TWO-MONTH HIGH: European P1020 duty-paid premiums up further.

4. ALERT! – EUROPEAN BILLET. PAUSE OR BOTTOM? European billet premiums decline stops for now.

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. PILING UP: Scrapyards’ inventory levels rising as consumers postpone appointments.

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

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