LME prices rise toward the upper end of expected range; Mexico's P1020 and billet contract premiums at new lows

1. LME price short-term range-trading zone continues to be seen at $... per mton.

2. ALERT! – MEXICO P1020 & BILLET. NEW LOWS: Mexico's P1020 and full billet contract premiums fall to new lows.

3. ALERT! – US TARIFFS ON RUSSIA. No change in US Tariffs implementation date despite a delay in Customs reporting requirements.

4. ALERT! – US BILLET. NINE YEAR LOWS: Declining US offshore imports reflecting current weak market fundamentals.

5. ALERT! – EUROPEAN BILLET. WEAKER SPOT APPETITE: European billet spot market appetite weakening again, Q3 contractual premium range so far is $... per mton.

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

6. ALERT! – EUROPEAN SCRAP. DOWNTREND PAUSES: SFA demand and prices for April pick up slightly.

For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.

7. ALERT! – GREEN ALUMINUM. World Increasing Scrap Processing Capacity.

For more details, subscribe to HARBOR’s specialized “Green Aluminum Monitor” reports.

8. China’s aluminum prices stuck at technical resistance zone.

9. LME Cash–3M contango narrows sharply toward break-even levels, no longer attractive for most players to profitably finance cash-and-carry deals.