LME price up w/w; US spot billet upcharge falls to... c/lb; Billet in Europe touches $... per mton
1. LME prices close the week up 1% while latest economic data and field intel confirmed underlying bearish trend.
2. ALERT! – US BILLET. GAP DOWN: US spot billet upcharge reaches... cent/lb, most concluded 2024 business below... cent/lb.
3. ALERT! – EUROPEAN BILLET. DECLINE RESUMES: European billet premium slide reaches $... per mton.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
4. ALERT! – EUROPE MILL-GRADE SCRAP. DELAYED: Annual mill-grade scrap deals late amid poor demand and lack of visibility.
For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.
5. LME Cash-3M contango tightens (bearish premiums).
6. China’s aluminum price continues to face technical resistance.