US Congress to review potentially improper charges of Section 232 Tariffs; LME prices still inside $1,670–$1,700 per mton range
1. LME prices slightly down but withing key zone. Technical breakout above $1,700 per mton could still accelerate gains toward our $1,840 per mton target.
2. HARBOR’s Green Aluminum Upcharge assessed at zero.
3. US ALUMINUM ALERT. US defense and infrastructure spending to require greater usage of domestic aluminum.
4. SECTION 232 ALERT. US Congress to request report on potentially improper charges of Section 232 Tariffs on aluminum.
5. LME Cash–3M contango slightly narrowing from two-month highs amid tighter conditions after October.
6. MEXICO 6063 SCRAP ALERT. 6063 scrap prices jump in Mexico as availability shrinks. please subscribe to our specialized US & Mexico Weekly Scrap Report for more details.
7. China’s aluminum prices face profit-taking after reaching one week-highs.
More details in full report.