LME price closes week down 5.4%

October 6, 2023

ALERT! – EUROPE SCRAP.

1. LME Cash price ends the week down 5% at $... per mton, completely reversing last week’s rally.

2. LME Cash-3M contango narrows further; spreads have not been enough to stop the decline in premiums.

3. ALERT! – EUROPE SCRAP. EXPORT MARKET TAKES OVER: Indian buyers retain the upper hand, outbidding some European smelters.

For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.

4. RERUN: ALERT! – EUROPEAN P1020. ROTTERDAM FALLS FURTHER: European P1020 premium fall reaches $... per mton.

5. ALERT! – US EXTRUSION SCRAP. STEADY: Short supply holds extrusion scrap spreads sideways.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

6. The Shanghai Futures Exchange (SHFE) was closed today due to China’s National Day weeklong holiday. Trading will resume on Monday, October 9.

REQUEST A SAMPLE