LME price down amid bearish range-trading; US 2024 billet upcharges fall further

November 24, 2023

ALERT! – US BILLET.

1. LME prices drop amid demand contraction and thin volumes, hovering around the middle of the $... per mton trading range.

2. China’s aluminum price ends the week near three-month lows.

3. ALERT! – US BILLET. BUYER’S MARKET: 2024 contractual billet upcharges fall further.

4. ALERT! – US FOIL CIRCUMVENTION. FINAL DECISION: DOC determines that foil imports from Thailand and South Korea are circumventing duties on China.

For more details, please subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.

5. UPDATE! - WORLD ALUMINUM SMELTING COSTS. STEADIER COSTS: World Primary Aluminum Production Costs Tick Up.

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

6. LME Cash-3M contango and far-end spreads widen toward two-month highs, still unsupportive for spot premiums.

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