LME falls further amid no US Sanctions on Russian Aluminum

1. LME prices fall to fresh three-week lows as talk of additional tariffs on US imports of Russian aluminum confirms Sanctions remain off the table. The above is bearish for LME prices and neutral premiums.

2. ALERT & ANALYSIS! – RUSSIAN ALUMINUM. MORE TARIFFS ON RUSSIA…BUT ONLY IN THE US: US considering a 200% tariff on aluminum imports from Russia; Sanctions no longer mentioned as an option.

3. China’s aluminum prices continue to lack short-term direction; stuck near medium-term technical resistance.

4. RERUN: ALERT! – EUROPEAN P1020. THREE-MONTH HIGHS. European P1020 duty-paid premiums inch higher again on LME and MW rally.

European duty-paid P1020 premiums up amid increase in LME prices and MW premium. For more details, please read HARBOR’s Daily Aluminum Commentary released last Friday.

5. ALERT! – EUROPEAN SMELTING. EUROPEAN SMELTER RESTARTS. Alcoa’s San Ciprian to restart production.

6. LME Cash–3M contango widens marginally; far end contango approaches nine-year highs.