LME price down $... per mton; MW and US billet premiums fall further
May 3, 2023
ALERT! – US MW PREMIUM – from HARBOR’s Pricing Unit.
1. LME prices down; Oil prices plunge suggest LME at $... per mton.
3. ALERT! – US MW PREMIUM – from HARBOR’s Pricing Unit. CORRECTION CONTINUES: Spot MW premium falls to a low of... cent/lb.
4. ALERT! – US BILLET. Q1 EXTRUSION DEMAND: LOWEST SINCE 2014: US spot billet premium reaches... cent/b, contract 2023 premiums at... cent/lb.
5. LME Cash–3M spread eases to contango; May-June tightness remains steep (still bearish P1020 spot premiums).
6. The Shanghai Futures Exchange (SHFE) was closed today due to China’s Labor Day holiday. Trading will resume on Thursday, May 4.