1. LME prices reach fresh two-week highs before closing slightly down.
Prices fell after reaching fresh intraday highs. LME 3M aluminum prices reached fresh intraday highs of $…
2. UPDATE! – US MW PREMIUM. HARBOR’s MW P1020 Duty-Paid Spot Premium in Equilibrium up slightly
HARBOR’s MW P1020 Duty-Paid Spot Premium in Equilibrium closed the day at… cent/lb; US MW P1020 Spot Duty-Unpaid Premium at… cent/lb.
HARBOR’s MW P1020 Duty-Paid Spot Premium in Equilibrium was designed to protect metal contracts from MW premium market distortions. HARBOR specifically created this assessment to provide accuracy, functionality, certainty and reliability to buyers and sellers transacting aluminum products in the US. This assessment computes every business day the full logistical, working capital and duty costs of importing unwrought aluminum units from aluminum-supplying countries/warehousing hubs into a typical buyer’s warehouse in the US Midwest. This assessment is the result of the sum of the HARBOR’s US MW P1020 Spot Duty-Unpaid Premium level, a technically robust and historically functional assessment that computes the full logistics and working capital cost of importing unwrought aluminum into the US Midwest, plus the full import Tariffs charged on the metal, including current Section 232 Tariffs of 50%. With this MW premium assessment, buyers and sellers can rest assured that no party in the contract will be injured by premium distortions or deviations that can compromise the spirit and letter of the contract.
HARBOR’s Pricing Unit Committee is the oversight body governing HARBOR’s price and premium benchmark assessments. To avoid potential conflicts of interest, HARBOR’s Pricing Committee Unit is fully independent from HARBOR’s Market Intelligence and Outlook Unit (the latter generates price and premium forecasts).
Please find HARBOR’s MW P1020 Duty-Paid Spot Premium in Equilibrium published within the PDF included in our Daily Aluminum Commentary report.
3. LME nearby spreads widen but tightness persists.
The Cash-3M contango widened marginally to $… per mton, from $… per mton previously. The Cash–August contango widened to $…
4. China’s aluminum price retreat from three-week highs.
Prices pulled back sharply in after-hours after reaching three-week highs. SHFE front-month aluminum price closed the session up… % at…