LME price falls to low of $... per mton while LME contango reaches decade highs; US billet upcharge for 2023 falls to a low of... c/lb

March 13, 2023

ALERT! – US BILLET.

1. LME Cash price tested a fresh three-month low of $... per mton, further approaching HARBOR’s $... per mton target zone.

2. China’s aluminum prices regain some ground after testing a two-month low.

3. ALERT! – US BILLET. UPCHARGE FALLS FURTHER: 2023 US billet contractual upcharge reaches a low of... cent/lb.

4. ALERT! -EUROPE PFA. NARROWS: European PFA spot premium range narrows to $... per mton.

5. UPDATE! – WORLD SMELTING PRODUCTION COST. DOWNTREND CONTINUES: World aluminum production costs fall further.

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

6. RERUN: ALERT! - MEXICO SCRAP. NOT GETTING BETTER: Reliable homes for scrap units in the Mexican market remain scarce. UBCs, old cast, and extrusion scrap widely available in the market.

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

7. LME Cash–3M contango widens above $... per mton, a new 15-year high amid ample metal availability.

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