1. LME price posts a weekly gain of 3% or $… per mton; rally continuation would target the $2,500-2,700 per mton range that prevailed over the past year.
LME 3M aluminum prices fell today by 0.4% or $… per mton, closing at $… per mton. Prices reached early in the session a fresh three-week high of $… per mton before relevant profit-taking selling emerged amid lingering uncertainty over US-China trade talks. However, in weekly terms, LME 3M prices climbed by 3.0% or $… per mton.
2. ALERT! – US BILLET. BULLISH OUTLOOK: US billet upcharges expected to rise further ahead.
Despite demand uncertainty in the short term, US spot billet upcharges for US-based suppliers are expected to climb to as high as…
3. ALERT! – EUROPEAN BILLET. BOTTOMING? EU spot billet premiums unchanged amid limited downside.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
4. LME Cash-3M contango widens from three-week lows, supportive of cash-and-carry deals.
The Cash-3M contango closed the week widening to $… per mton (a 5.4% annualized yield) from Thursday’s three-week low of $…er mton. The May–June contango widened to $… per mton from …
5. China’s aluminum prices continue testing technical resistance at three-week highs.
SHFE front-month aluminum prices closed today’s session up 0.3% at… yuan per mton. Prices tested early in the session a fresh three-week intraday high at… yuan per mton before partially trimming gains as uncertainty over US-China trade talks persisted.