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LME price range trading continues as China’s price reaches fresh highs; US mill shutdowns return amid depressed demand

US ROLLING MILL UPDATE.

Executive Summary

1. LME prices range continue in range trading mode just below $1,500 per mton.

2. LME Cash-3M contango narrows to a three-week low but inflows into LME warehouses resume.

3. MW Duty-Unpaid P1020 premium assessed today at... cent/lb.

4. US ROLLING MILL UPDATE. US mill shutdowns and rationalizations return amid depressed demand; slab upcharges at multi-decade lows.

5. HARBOR’s Implicit Green Aluminum Upcharge assessed today at zero.

6. China’s aluminum prices bounce back toward eight-week highs.

More details in full report.