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LME prices down on end-of-quarter profit taking; MJP Q2 premiums rise to highest since 2015

Special Note: HARBOR’s Daily Aluminum Commentary will not be published between tomorrow, April 1, and Monday, April 5 (inclusive), due to the Easter holidays.

1. LME prices retrace to low end of our resistance zone ($... per mton).

2. SHFE aluminum prices remain stuck near current support levels.

3. MJP PREMIUM ALERT. MJP spot jumps to $... per mton; Q2 to $... per mton.

4. RERUN: US WIRE ROD ALERT. UP AND COMING: Strong EC demand to further pressure up premiums.

5. US OLD CAST SCRAP ALERT. COMPETITION FOR OLD CAST INTENSIFIES: US secondary smelters and brokers are competing for units. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

6. US ROLLING MILL ALERT. FINAL CONFIRMATION: AD/CVD Duties to be Paid for US Common Alloy Sheet Imports. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

7. LME Cash–3M contango narrows amid tighter conditions ahead of April but remains supportive of cash-and-carry deals.

More details in full report.