1. LME prices up and near $2,800 per mton.
Prices continued to test session highs near $2,800 per mton. LME 3M aluminum prices closed the session up… % or $… per mton, at $… per mton. Prices continued to be supported by optimism over a trade deal between the US and China, while stronger-than-expected corporate earnings results underscored…
2. SPECIAL ALERT! – US SECTION 232. BREAKING THE NEW TARIFF REGIME? Canada hints at a potential aluminum Tariff deal.
US-Canada aluminum trade negotiations are making “significant progress”. HARBOR now sees higher odds of a deal that would potentially grant Canada a preferential Tariff rate not lower than…
3. ALERT! – EUROPEAN SCRAP EXPORTS. PRESSURE BUILDING UP: No export restrictions yet, record flows persist.
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4. ALERT! – EUROPEAN EXTRUSION SCRAP. URGENCY EASING: Extrusion scrap constraints ease, buyers seek price relief.
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5. LME Cash-3M backwardation eases to two-week lows, steep backwardation persists ahead of November.
The Cash-3M backwardation eased to a two-week low of $… per mton, from Monday’s $… per mton. Tightness ahead of November continues to ease gradually, as the Cash–November backwardation narrowed to…
6. China’s aluminum prices continue to retest levels above… yuan per mton.
SHFE front-month aluminum prices climbed in after-hours trading to as high as… per mton ($… per mton, ex-VAT), after closing today’s session marginally up at… yuan per mton.