LME prices approach $... per mton with door open for more; Premium upside risks considerable amid tariff hikes

1. LME prices spike 4% and approach unprecedented $... per mton level as melt-up across global commodity market continues. Door open for further sharp price increases in the next sessions.

2. LME Cash–3M backwardation steepens; long-term backwardations intensify to fresh decade-highs.

3. China’s aluminum prices test new four-month highs.

4. LME PRICE & PREMIUMS ALERT. NO ALTERNATIVE: Signs of aluminum demand destruction emerging.

5. RERUN: ALERT! - US MW PREMIUM. PREMIUM BULLISH RISK: Bill proposed in the US Senate opens path for tariff hike on aluminum imports from Russia.

6. ALERT! - EUROPEAN PREMIUMS. PREMIUM BULLISH RISK GROWS: European Union follows US steps and analyzes possibility of tariff hike on imports from Russia.

7. RERUN: ALERT! - ALUMINUM NEWS. IMPAIRED RELATIONSHIPS: Norsk Hydro and Alcoa to cease commercial relationships with Russian counterparts.

8. US BILLET ALERT. NO IMPACT YET: US billet imports not impacted by war in Ukraine so far.

9. EUROPEAN BILLET ALERT. TENSE CALM: European spot billet premiums unchanged as market digests the effects of the war in the Ukraine.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

10. RERUN: US ROLLED PRODUCTS ALERT. WAR SHOCK: Common alloy sheet/coil conversion prices may increase another... % on current LME and MW levels.

For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

11. GREEN ALUMINUM MONITOR: Carbon Capture Solutions Gain Further Attention.

For more details, please see HARBOR’s “Green Aluminum Monitor” released earlier today.

More details in full report.