LME price slightly up despite more inventory buildups; US spot billet upcharge at a discount
1. LME prices slightly up within HARBOR’s identified trading range of $... per mton.
2. ALERT! – US BILLET. AT A DISCOUNT: US spot billet upcharge trading at a discount vs latest 2023 signed contracts.
3. ALERT! – EUROPEAN BILLET. UNCHANGED: European spot premiums steady, bulk of April’s contracts concluded.
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4. ALERT! – EUROPEAN SCRAP. MARGIN SQUEEZE: D226 prices for March delivery drop to five-week lows.
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5. GREEN ALUMINUM MONITOR. More scrap recycling before zero-carbon smelting kicks-in.
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6. ALERT! – US SCRAP. UBC discounts widen further,... x wider than historical average.
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7. LME Cash–3M contango narrows marginally, fresh inventory inflows in Asia supportive of loose nearby spreads.
8. China’s aluminum prices cap gains at a one-week high.