1. LME price climbs to three-week highs, approaching the upper end of the current trading range.
LME 3M aluminum prices closed today at a three-week high of $… per mton, up 0.5% or $… per mton from yesterday. Meanwhile, LME Cash aluminum prices closed today at $2… per mton, up 0.9% or $… per mton from yesterday. Aluminum prices increased in tandem with…
2. LME Cash-3M spread again in backwardation amid concentrated live warrant holdings and nearby longs.
The Cash-3M spread tightened to a $… per mton backwardation from yesterday’s $… per mton contango. Tightness continued intensifying ahead of July, as the Cash-June backwardation intensified to…
3. ALERT! – US EXTRUSION SCRAP. EXTRUSION DISCOUNTS DOUBLE: US extrusion scrap discounts soar to 2023 levels.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
4. ALERT! – US UBC. PRICES COLLAPSE, RECORD SPREADS: UBC buying percentages fall on MWP spike, stockpiles.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
5. China’s aluminum prices rebound from one-week lows.
SHFE front-month aluminum closed today’s session down 0.8% at a new one-week low of… yuan per mton ($… per mton, ex VAT). However, prices rebounded in after-hours to as high as… yuan per mton ($… per mton, ex VAT) on US-China trade optimism and…