Technical buying emerges at $1,770 per mton support; US MW P1020 and PFA premiums plummet
1. LME prices fall to levels below $1,770 per mton support but failed to maintain them.
2. US MW PREMIUM ALERT. MW spot premium between suppliers plummets to a 20-month low amid sharp backwardation and Section 232 exemptions.
3. US PFA ALERT. US PFA spot premiums fall to decade lows despite Section 232 Tariff.
4. LME Cash-3M spread flattens to zero as December–January “back” eases to a two-week low (still unsupportive of premiums).
5. HARBOR’s Implicit Green Aluminum Upcharge assessed today at zero, unchanged from yesterday’s assessment.
6. China’s aluminum prices down on profit-taking selling.
More details in full report.