LME price rallies back to resistance zone; US MW spot premium decline pauses

1. LME price climbs... % on China reopening rumors; tests the $... per mton resistance zone.

2. ALERT! – US MW PREMIUM. PAUSE: MW spot premium range narrows.

3. ALERT! – US CANSHEET. CAN GROWTH SLOWS: North America aluminum beverage can demand disappoints as inflation bites.

For more details, please subscribe to HARBOR’s specialized Aluminum Rolled Products Intelligence Report.

4. ALERT! – EUROPEAN BILLET. TRADING AT $... : European spot and Q1 back-to-back 2023 billet premiums as low as $... per mton.

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

5. ALERT! – EUROPEAN SCRAP. NO ACTIVITY: Participants across the value chain planning to go on holiday earlier than usual amid poor demand conditions.

For more details, please subscribe to HARBOR’s specialized Europe Scrap Intelligence Report.

6. China’s aluminum price up to one-week highs, range-trading conditions prevail.

7. LME Cash–3M contango remains tight amid December–January backwardation (bearish premiums).