1. LME price remains at one-week highs, above the $2,800-2,850 per mton support zone.
LME 3M aluminum prices closed today at a new one-week high of $… per mton , up… % or $… per mton from yesterday. Prices traded within a narrow range of $… per mton, finding support from improved demand sentiment amid optimism the US government shutdown will likely end as soon as tomorrow, while the US dollar weakened as lingering labor market concerns feed expectations of a December interest rate cut by the Federal Reserve.
2. LME Cash-3M contango widens sharply to $… per mton, returns to attractive levels for cash-and-carry deals.
The Cash-3M contango widened further to a new six-month high of $… per mton, from $… per mton yesterday, as nearby tightness eased through January. The Cash-November backwardation eased to $… per mton from $… per mton…
3. MATING SEASON SERIES! – US/MEX PFA. MORE EXPENSIVE NEXT YEAR: 2026 annual PFA premiums spike in US and MX.
Regional 2026 contractual PFA premiums jump in the US and Mexico to as high as… cents/lb on standard ingot form and to as high as… cents/lb on tee side.
4. UPDATE! – SMELTING PROFITABILITY. STRUCTURAL? Smelting profitability now 4X larger than historical average.
For more details on aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.
5. China’s aluminum prices rise to a new one-year high, technical momentum remains bullish.
SHFE front-month aluminum prices closed today at a new one-year high of… per mton ($… per mton, ex-VAT), extending gains in after-hours to as high as… per mton ($… per mton, ex-VAT). Prices continued to trend higher amid…