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 LME price unwinding previous rally; US 2024 billet premiums continue to fall


1. LME prices fall further amid demand contraction and lower oil prices.

2. China’s aluminum price retraces to one-week lows.

3. ALERT! – US BILLET. SUPPLIER COMPETITION INTENSIFIES: 2024 offered and concluded billet premiums fall further.

4. ALERT! – US ZORBA. IN FLUX: US zorba prices increase but still near trough.

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

5. UPDATE! – WORLD SMELTING PRODUCTION COST. BEARISH ENERGY PRICES: Lower energy costs keep smelting costs at multi-year lows.

For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.

6. LME Cash-3M contango tightens and remains uneconomic for cash-and-carry deals (bearish premiums).