LME price down to a one-week low; US MW premium trading at around... cent/lb
May 22, 2023
US MW PREMIUM ALERT-from HARBOR’s Pricing Unit.
1. LME prices decline for a third-consecutive session, sliding toward the low end of the $... per mton short-term trading range.
2. China’s aluminum prices pull back to the low end of their multi-month trading range.
3. US MW PREMIUM ALERT-from HARBOR’s Pricing Unit. WIDENING: Spot MW premium range widens.
4. ALERT! – US SLAB. IN CONTRACTION MODE: Weakening North American slab demand and rising slab availability are bearish signs for spot premiums ahead.
5. ALERT! – EUROPE WIRE ROD. AT CAPACITY: European cable producers running at full capacity, but bearish EC rod premiums outlook lingers.
6. LME Cash-3M spread returns to contango as backwardation ahead of June more than halves.