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Highest LME weekly close since February; LME spreads remain wide open; US UBC discounts widen to four-month highs

US UBC ALERT.

Executive Summary

1. LME prices closed the week at the $1,700 per mton mark.

2. HARBOR’s Green Aluminum Upcharge is assessed at zero.

3. LME Cash–3M contango remains near two-month highs amid fresh inflows in LME Asia warehouses (supportive of P1020 premiums around the world).

4. US UBC ALERT. UBC prices up, discounts at four-month highs; Class 1 and 3 scrap seen tighter. To see our full market intel and price assessment on scrap and secondary aluminum please subscribe to our specialized Weekly Scrap Report.

5. China’s aluminum prices consolidating within the 14,300–14,600 yuan per mton zone ($1,810–$1,850 per mton, excluding VAT).

More details in full report.