LME prices maintain recent gains; US billet demand and upcharges to strengthen ahead
1. LME prices remain at a three-month high, just below HARBOR’s $1,670 per mton technical price target.
2. LME Cash–3M contango holds at a seven-week high amid loosening conditions after July (supportive for spot P1020 premiums around the world).
3. US BILLET ALERT. US billet demand and spot upcharge recovery expected to strengthen ahead.
4. US CANSHEET ALERT. Can demand maxes out supply and then some as demand spikes by as much as 30% y/y. To see our full intel on US cansheet, please subscribe to our specialized US Aluminum Rolled Products Intelligence Report.
5. China's aluminum price rally pauses, but five-month high levels hold.
More details in full report.