1. LME price tests eleven-week highs, remains inside the $2,500-2,750 per mton range.
LME 3M aluminum prices closed the session down… % or $… per mton, at $… per mton. Prices pulled back from a fresh eleven-week intraday high of $… per mton as some profit-taking selling emerged amid a lack of significant escalation in Israel-Iran tensions and no direct US involvement at this point. Nevertheless, LME 3M prices found…
2. ALERT! – US BILLET. BILLET SURCHARGE COMING? Some suppliers looking for… c/lb billet surcharge.
Some offshore billet suppliers are pushing for the imposition of steep surcharges on their annual billet contracts to make up for the “massive losses” the new Section 232 regime has produced them.
3. ALERT! – US MW PREMIUM. A FUNCTIONAL REFERENCE: HARBOR’s MW duty-unpaid premium stands as high as… cent/lb.
HARBOR’s MW duty-unpaid spot premium stands… cent/lb, compared to an average of… cent/lb during the first half of June. HARBOR began publishing its US MW P1020 spot duty-unpaid premium back on March 23, 2018, when Section 232 Tariffs were initially instated. All the reference prices Harbor publishes are discovered transactional prices. The US MW P1020 spot duty-unpaid premium is no different, this premium encompasses and computes the full logistical and finance cost, excluding duties, incurred for importing P1020 units from leading aluminum supplying countries into the US Midwest.
4. ALERT! – MJP P1020 PREMIUM. GAPS DOWN AS FORECASTED: Spot MJP premium falls to as low as $… per mton.
As anticipated by HARBOR since last year, the MJP spot premium has fallen to as low as $… per mton, the lowest level in… months.
5. ALERT! – US SCRAP EXPORTS. TRADE FLOW TURMOIL? Thailand’s US aluminum scrap appetite faces new headwinds.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
6. LME Cash-3M backwardation steepens to one-week highs; far-end contangos tighten further to two-month lows.
The Cash-3M backwardation intensified to $… per mton, from $… per mton previously. The Cash–July backwardation narrowed to $… per mton from $… per mton, but the July–August contango tightened to $…
7. China’s aluminum prices rise along with higher alumina prices.
SHFE front-month aluminum prices closed today’s session up… % at… yuan per mton ($… per mton, ex VAT). Prices climbed early in the session to an intraday high of…