LME Cash price down to $... per mton, levels below seen possible but unsustainable for now
1. LME Cash price falls to a new five-month low, testing HARBOR’s forecasted $2,200 per mton zone, levels below are seen ahead but not sustainable for now.
2. ALERT! – LME PRICE. ARB REOPENS: Plunging LME prices reopen arbitrage to export P1020 to China, LME supportive.
3. China’s aluminum prices hold near two-month lows.
4. ALERT! – EUROPEAN P1020. INCHING UP: European P1020 duty-paid premiums up to four-month highs, bearish clouds intensify.
5. ALERT! – US COMMON ALLOY DUTIES. ANTI-CIRCUMVENTION PETITION: US industry requests circumvention investigation on certain common alloy sheet imports from South Korea.
For more details, subscribe to HARBOR’s specialized Aluminum Rolled Products Intelligence report.
6. ALERT! – EUROPE ROLLING MILL. PRICES DECLINE: Coil conversion prices continue to fall.
For more details, subscribe to HARBOR’s specialized Aluminum Rolled Products Intelligence report.
7. LME Cash–3M contango narrows slightly, still close to the widest since 2008 and supportive for cash-and-carry deals.