1. LME prices climb toward three-month highs amid fluid geopolitical developments in the Middle East; technically, we see a predominant trading range between $2,500-2,750 per mton.
LME 3M aluminum prices closed the session up… % or $… per mton, at $… per mton. Prices initially spiked to as high as $… per mton, a fresh three-month high, in the aftermath of this Saturday’s US strikes on Iranian nuclear facilities, which…
2. LME Cash-3M backwardation remains in double-digits (bearish P1020 premiums), LME adopts new lending rules to prevent major short squeeze episodes.
The Cash-3M backwardation intensified marginally to $… per mton, from Friday’s $… per mton. The Cash–July backwardation narrowed to $…
3. RERUN: SPECIAL ALERT! – MW PREMIUM. NEW MW PREMIUM ASSESSMENT: HARBOR launches MW Duty-Paid Premium in Equilibrium assessment.
For more details, please see HARBOR’s “SPECIAL ALERT! – MW PREMIUM” released on Friday.
4. ALERT! – MEXICO OLD CAST. NOT BUYING DOMESTIC: Demand for local old cast thwarted by a wide import arbitrage.
For more details, subscribe to HARBOR’s specialized “ US and Mexico Aluminum Scrap Intelligence”report.
5. China’s aluminum prices edge lower amid oil price volatility.
SHFE front-month aluminum prices closed today’s session marginally down at … yuan per mton ($… per mton, ex VAT). Prices climbed early in the session to an intraday high of…