LME price at multimonth lows; US EC rod production spikes
March 21, 2023
ALERT! - US WIRE ROD.
1. LME prices testing five-month lows while short-term technicals deteriorate. Prices below $... per mton are seen as possible but unsustainable for now.
2. China’s aluminum prices unable to rebound from two-month lows.
3. ALERT! - US WIRE ROD. MORE DOMESTIC PRODUCTION: US EC rod spot market quiet, domestic production displaces imports.
4. ALERT! – GREEN ALUMINUM. SUPER GREEN BILLET/EXTRUSIONS: Hydro ships first near-zero aluminum in Europe.
For more details, subscribe to HARBOR’s specialized “Green Aluminum Monitor” reports.
5. LME Cash–3M contango narrows marginally, loose conditions persist through June (supportive for cash-and-carry deals).