LME prices reach HARBOR’s $2,200 per mton target; SHFE prices reach a nine-year high
1. LME PRICE ALERT. HAT TRICK: HARBOR’s $2,200 per mton price forecast reached.
2. China’s aluminum prices reach a nine-year high.
3. EUROPE PFA ALERT. SPOT STABLE: PFA premiums steady as auto demand remains strong.
4. US PRIMARY SCRAP ALERT. THERE IS NOT ENOUGH SCRAP: Buyers continue to narrow spreads for prompt loads of primary scrap. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
5. LME nearby “back” intensifies, but Cash-3M contango remains in double digits.
More details in full report.