1. LME price up 2.6% w/w despite trimming gains on Friday, still attempting to re-enter the $… per mton range.
LME 3M aluminum prices increased this week by 2.6% or $… per mton, posting their biggest w/w gain since January. Nevertheless, LME 3M prices closed Friday’s session down 0.3% or $… per mton, at $… per mton, retreating toward…
2. LME Cash-3M spread closes week in backwardation (bearish P1020 premiums).
The Cash-3M spread closed the week in a $… per mton backwardation from yesterday’s contango of $… per mton. Tightness intensified ahead of June’s third Wednesday, as…
3. ALERT! – US SMELTING. US SMELTING REVIVAL: Plans announced for a new US 600k mtpy smelter in Oklahoma.
Oklahoma could see the construction of a new US smelter that would be operational by 2030. The project is…
4. ALERT! – EUROPEAN BILLET. UP AFTER SIX WEEKS: Southern European billet premiums rise a bit on high.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
5. ALERT! – EUROPE D226 AND SECONDARY SCRAP. NO RELIEF: VW Group’s auction proves underwhelming for secondaries.
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6. ALERT! – MEXICO SCRAP. FAVORING P1020: Scrap activity dries up as consumers demand more P1020.
For more details, subscribe to HARBOR’s specialized “ US and Mexico Aluminum Scrap Intelligence” report.
7. China’s aluminum prices continued testing technical resistance around six-week highs.
SHFE front-month aluminum closed down 0.4% at… yuan per mton ($… per mton, ex VAT). Nevertheless, in after-hours trading, prices rebounded to test a new six-week intraday high…