LME price correction continues, Chinese aluminum inventories rise sharply

1. LME price falls to a new one-month low of $... per mton, down... % w/w and down... % since mid-January.

2. ALERT! – LME PRICE. SURPLUS BUILDUPS CONTINUE. Chinese aluminum inventories rise sharply.

3. China’s aluminum price falls to a three-week low, down... % since its most recent high amid profit-taking.

4. ALERT! – US BILLET. PRONE TO DISCOUNTS. US billet oversupply and discounting conditions linger, spot demand to increase ahead nevertheless.

5. MEXICO BILLET & P1020 ALERT. UNSOLD METAL  PILING UP: Billet and P1020 inventories spike at Mexican ports amid unsold metal units.

6. ALERT! – EUROPEAN BILLET. Q2 PREMIUMS STABLE, SPOT FALLS FURTHER. Q2 contractual premiums unchanged, spot premiums fall to as low as $... per mton.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to HARBOR’s specialized European Billet Intelligence Report.

7. ALERT! – EUROPEAN SCRAP. STANDOFF. Secondary smelters and billet remelters in Europe pushing for higher selling prices.

For more details, please subscribe to HARBOR’s specialized Europe Scrap Intelligence Report.

8. LME Cash–3M contango tightens to one-week lows but remains supportive for new cash-and-carry deals.