LME prices inside HARBOR's short-term target range; Spot P1020 and billet premiums rise in Iberian peninsula
1. LME prices down and vulnerable to fall to as low as $1,770 per mton in next sessions.
2. EUROPEAN P1020 ALERT. Ingot premiums in Spain and Portugal have strengthened as P1020 spot availability has tightened amid ongoing strike in the Port of Bilbao.
3. EUROPEAN BILLET UPDATE. UP FURTHER: Q1 contractual premium floor rising further. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
4. EUROPE ROLLING MILL UPDATE. AD/CV DUTIES IMPACT: US automotive plants relying on NHT autosheet from Germany facing significant supply hurdles. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
5. US ROLLING MILL UPDATE. MORE BULLISH: US common alloy sheet/coil hangover cured; conversion prices up further. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
6. LME Cash–3M contango tightens to a ten-month low as November-January backwardations emerge (bearish for P1020 spot premiums).
7. China’s aluminum prices find technical support near one-month lows.
More details in full report.