LME price falls to $... per mton (as anticipated by HARBOR); US offshore billet imports plunge
1. ALERT! – LME PRICE. AS ANTICIPATED BY HARBOR: LME prices reach our $... per mton target. We continue to expect prices to visit the $... per mton target zone.
2. ALERT! – US BILLET. DECADES’ LOWS: US offshore billet imports lowest since 2013.
3. ALERT! – EUROPEAN BILLET. SOFTENING RANGE: Q3 contractual range widens as demand uncertainty weights in and suppliers’ competition for market share intensifies.
4. ALERT! – EUROPEAN SLAB. DEMAND CHALLENGES: European slab facing demand contraction.
5. ALERT! – CHINA ALUMINUM. EXPANDING PRODUCTION: China’s primary aluminum production at a 7-month high.
6. China’s aluminum prices down and nearing four-month lows amid demand concerns.
7. LME Cash-3M contango widens to double-digits; LME canceled warrants spike by the most in two years.