1. LME Cash price pulls back below $2,400 per mton amid Chinese manufacturing contraction, re-enters upper end of HARBOR’s identified “value” zone for buyers.
LME Cash aluminum closed today at $… per mton, down 2.6% or $… per mton from yesterday. Meanwhile, LME 3M aluminum prices closed the session at $…per mton, closing April down 5.3% m/m and below the $2,430-$2,500 per mton range of the last week. LME prices pulled back to one-week lows today amid…
2. ALERT! – US BILLET. BILLET PREMIUMS SPIKE: Spot upcharge for US-produced billet reaches… c/lb.
As anticipated by HARBOR, US billet spot upcharges for US producers have reached as high as… cent/lb on export demand.
3. ALERT! – US ROLLING MILLS. BOOKED SOLID: US Aluminum Mills booked through July, Quoting August.
For more details, subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
4. China’s aluminum prices reached four-week highs ahead of the long weekend.
SHFE front-month aluminum prices closed today’s session up 0.3% at… yuan per mton, marking a fresh four-week high. However, prices failed to hold intraday gains highs to… yuan per mton amid technical selling ahead of a long weekend, as…
5. LME Cash-3M contango tightens to three-week lows, still supportive of short-term inventory financing deals.
The Cash-3M contango narrowed to a three-week low of $… per mton from $… per mton yesterday. The May–June contango widened marginally to $.. per mton from $… per mton, but was more than offset by an intensifying June-July backwardation of…