LME price falls $... per mton in week; US and European billet premiums deteriorate further

1. LME price plunges 4% or $... per mton this week on deteriorating demand outlook conditions and bearish technical momentum.

2. LME Cash–3M contango holds near seven-year high while far end contango hits new highs since 2014 amid growing signs of oversupply.

3. ALERT! – US BILLET. FALL CONTINUES: US billet premium offers fall to... cent/lb.

4. RERUN: ALERT! – MEXICO BILLET. 50% CORRECTION: Mexico’s 6063 billet premium plummets to $... per mton.

For more details, please see HARBOR’s “ALERT! – Mexico Billet” released yesterday.

5. ALERT! – EUROPEAN BILLET. FALL CONTINUES: European spot billet premiums decline further and approach Q1 contractual premium levels.

To see our full European Billet Market Intel and Premium assessment, please subscribe to HARBOR’s specialized European Billet Intelligence Report.

6. ALERT! – EUROPE ROLLING MILL. EUROPE FINSTOCK DOWN: Prices fall on no new orders, stock buildup.

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

7. ALERT! – EUROPEAN SCRAP. PRICES FALLING: Primary scrap consumers start quoting for early 2023 at wider discounts.

For more details, please subscribe to HARBOR’s specialized Europe Scrap Intelligence Report.

8. GREEN ALUMINUM MONITOR. Taxing of non-Green Aluminum imports likely but not soon.

For more details, please subscribe to HARBOR’s specialized “Green Aluminum Monitor Report.”

9. China’s aluminum price continues to trade near two-week lows.