LME prices fall as range trading continues

ALERT! – US 3003 SCRAP.
 

1. LME prices experience intraday fall of $50 per mton on strong selling after approaching the $2,700-2,750 per two-year old cyclical resistance zone.

LME Cash aluminum prices closed the session down 0.3% or $7 per mton, at $….

2. China’s aluminum price decline paused as exporters rush to ship out as much as possible ahead of export rebate removal.

SHFE front-month aluminum prices closed today’s session up 1.1% at…

3. ALERT! – US 3003 SCRAP. NEW CONSUMERS: 3003 clip scrap prices break two-year highs.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

4. UPDATE! – BAUXITE GUINEA. ISOLATED CASE: Bauxite dispute intensifies but contained.

For more details, subscribe to HARBOR’s “Alumina & Bauxite Intelligence” reports.

5. LME Cash–3M contango eases to one-week highs, still uneconomic for financing deals (bearish P1020 premiums).

The Cash-3M contango widened to $… per mton (a 4.9% annualized yield) from $… per mton on Tuesday.

 

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