LME price plunges $... per amid weak demand and rising supply
May 10, 2023
ALERT! – EUROPE ROLLING MILL.
1. LME price falls to fresh multi-week lows, targeting the lower end of HARBOR’s identified trading range ($... per mton).
2. China’s aluminum prices fall to six-week lows amid smelting restarts and demand disappointment.
3. ALERT! – EUROPE ROLLING MILL. B&C and Cansheet demand remains weak, auto doing better.
For more details, please subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
4. LME Cash-3M contango widens along with inventory buildups; remains too tight for cash and carry deals (bearish P1020 spot premiums).