1. LME 3M aluminum price increases further amid technical momentum and trade/demand optimism.
LME 3M aluminum prices closed at a new four-month high of $… per mton, up 0.4% or $… per mton from Friday. Prices climbed throughout the session amid growing optimism over Chinese demand and a weaker US dollar. LME prices tested intraday highs of $…
2. UPDATE! – MW PREMIUM. MWP IN EQUILIBRIUM UPDATE: HARBOR’s MW P1020 Duty-Paid Spot Premium in Equilibrium up sharply.
Please find HARBOR’s MW P1020 Duty-Paid Spot Premium in Equilibrium published within the PDF included in our Daily Aluminum Commentary report.
3. ALERT! – MEXICO EXTRUSION SCRAP. “HELLO AMERICA” : Mexico’s 6063 scrap demand plummets, exports to US skyrocket.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
4. China’s aluminum prices rise further, approaching four-month highs.
SHFE front-month aluminum closed today’s session up 1.1% at 20,780 yuan per mton ($2,565 per mton, ex-VAT). Prices climbed toward four-month intraday highs in…
5. LME Cash-3M spread tightens to a small backwardation (bearish P1020 premiums).
The Cash-3M spread tightened to a backwardation of $… per mton from Friday’s contango of $… per mton. The August–September contango tightened to $…