1. LME prices maintain upward technical momentum amid third-consecutive weekly increase. Door could open soon for a rally toward $… per mton.
LME Cash aluminum prices closed the week at $… per mton, up $… per mton or… % w/w. Prices fell on Friday by… % or $… per mton but still experienced a third-consecutive weekly gain amid ongoing support from easing concerns US-China trade tensions…
2. ALERT! – US MW PREMIUM. AS PREDICTED IN MAY: MW premium spikes above… cent/lb, all-time record high.
HARBOR’s MW duty-paid premium continues reaching new record highs amid rising LME prices, declining US inventories, and strong conviction of the permanence of Section 232 at 50% with no exemptions. As predicted since May, the MW premium has reached and surpassed our forecasted target for Q4 2025 of… cent/lb, and continues to approach our… cent/lb target for 2026.
3. LME Cash-3M backwardation remains in double digits amid significant nearby tightness.
The Cash-3M backwardation closed the week easing to $… per mton , from $… per mton previously. Nearby conditions remain significantly tight, with the Cash–November backwardation narrowing marginally to $12.24 per mton from $13.16 per mton, and the November–December backwardation loosening to $0.49 per mton from $2.82 per mton yesterday.
4. China’s aluminum prices still testing technical resistance around… yuan per mton ($… per mton, ex VAT).
Prices retreated from intraday levels above… yuan per mton. SHFE front-month aluminum prices closed today’s session up… % at… yuan per mton ($… per mton, ex-VAT). Prices remained supported by cooling trade tensions between the US and China, along with…