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LME price confirms $1,830 per mton target; MW premium financials jump amid bets Canada will lose its exemption

LME PRICE ALERT.

Executive Summary

1. LME PRICE ALERT. LME prices have technically validated HARBOR’s call of... per mton before the end of the year and as soon as next month.

2. HARBOR’s Green Aluminum Upcharge is assessed at zero.

3. CME MW duty-paid financials for August–December 2020 jump to a one-month high.

4. LME Cash–3M contango widens to the highest level in twelve weeks (supportive of P1020 premiums around the world) amid record high August–October contangos.

5. US Painted Siding Alert. Spot painted siding prices trading higher than Q2 formula prices. For more details, please subscribe to our specialized US & Mexico Weekly Scrap Report.

6. China’s aluminum prices increase to a two-week high amid demand stimulus.

More details in full report.