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LME price falls to $... per mton amid ample metal availability; MW premium pressured down


1. LME Cash price falls to $... per mton, approaching HARBOR’s $... per mton target zone.

2. ALERT! – LME INVENTORIES. IN SURPLUS: Indian aluminum remains predominant origin in LME warehouses as buildups continue.

3. ALERT! – CANADA IMPORTS. BAN THAT HAS NO EFFECT: Canada bans aluminum imports from Russia.

4. ALERT! – US MW PREMIUM. BEARISH: MW premium bearishness intensifies, demand contracting.

For more details, please see HARBOR’s “Alert! – US MW Premium” released yesterday.

5. ALERT! – US PFA. MEXICO’S AUTO SECTOR: Mexico’s auto and PFA demand grows further amid booming exports.

6. ALERT! – EUROPEAN BILLET. MIXED TRENDS: European spot premiums showing diverging trends.

To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.

7. ALERT! – EUROPEAN SCRAP. THREE-MONTH LOWS: Weak demand conditions are pushing secondary smelters to reduce run rates.

For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.

8. China’s aluminum prices fall to two-month lows, retreating to the low end of their range-trading zone.

9. LME Cash–3M contango widens again towards 15-year highs close to $... per mton amid ample metal availability.