LME prices end week inside previous cycle’s peak zone; European spot premiums at new highs
SPECIAL NOTE: Due to HARBOR’s 13th Aluminum Outlook Summit in Chicago next week, HARBOR’s Daily Commentary will not be published on September 6–10, 2021.
1. LME price closes inside ten-year old peak zone ($... per mton).
2. SHFE aluminum prices hold near fourteen-year highs.
3. EUROPE SLAB ALERT.INTERESTED IN SLABS: China looking for slabs in the Middle East and Europe.
4. EUROPEAN P1020 UPDATE. RISE CONTINUES: European P1020 premiums reach as high as $...
5. EUROPEAN BILLET UPDATE. AS HIGH AS $... per mton: Q1 2022 contract premiums spike to a record high of $... per mton; spot premiums reach $... per mton.
To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
6. EUROPEAN SCRAP MARKET. SLIGHLY UP: Secondary ingot and scrap prices up after summer break.
To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
7. GREEN ALUMINUM MONITOR: Renewable energy among the preferred options to go green.
For more details, please see our “Green Aluminum Monitor” released earlier today.
8. LME Cash–3M contango widens to a six-week high; LME 3M–15M backwardation intensifies on producer selling.
More details in full report.