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LME price closes Q3 on a bearish note; European spot P1020 and PFA premiums plummeting


1. LME prices closed September down 8% m/m and ended Q3 below the $... per mton level, feeding ongoing bearish technical momentum. Prices continue to target $... per mton before year’s end and ultimately $... per mton at some point in 2023.

2. ALERT! – LME PRICE & WORLD PREMIUMS. LME’s discussion paper and banning of conflicted units could disrupt aluminum market order, accelerate plunge in aluminum prices and premiums, and alter the competitive landscape of exchanges.

3. ALERT! – EUROPEAN P1020 PREMIUMS. GAPS DOWN: European P1020 premiums plummet to as low as $... per mton.

4. EUROPE PFA ALERT. PFA IN BEARISH CORRECTION: European PFA spot premiums fall to $... per mton.

5. RERUN: EUROPEAN BILLET ALERT. DECLINE RESUMES: European spot billet premiums drop 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.

6. GREEN ALUMINUM UPDATE. GREENER ARCHITECTURE: VELUX to lower scope 3 emissions 50% with Hydro’s help.

For more details, please subscribe to HARBOR’s “Green Aluminum Monitor Report.”

7. China’s aluminum prices stuck at the low end of trading range.

8. LME Cash–3M contango narrows to a three-week low, backwardation in late October intensifies.