1. LME price reaches two-week highs, revisiting HARBOR’s $2,700-2,750 per mton target zone. Technical momentum remains bullish.
LME 3M aluminum prices tested today a two-week intraday high of $… per mton, before paring gains and closing at $… per mton (up… % or $… per mton from yesterday). Prices rose for the fourth consecutive session amid ongoing bullish technical momentum….
2. ALERT! – OSWEGO. BEARISH WROUGHT SCRAP: Oswego hot mill outage to ding most wrought scrap demand.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
3. ALERT! – EUROPEAN D226 AND SECONDARY SCRAP. INDUSTRY TURMOIL: Layoffs, bankruptcies hit European auto industry.
For more details, subscribe to HARBOR’s specialized “ Europe Scrap Intelligence” reports.
4. LME Cash-3M contango widens to one-month highs, still at single digits.
The Cash-3M contango widened today to a seven-week high of $… per mton (a… % annualized yield), from $… per mton yesterday. The Cash–October contango steepened to $… per mton from $
5. The Shanghai Futures Exchange (SHFE) was closed today due to China’s National Day weeklong holiday. Trading will resume on Thursday, October 9.