LME price declines further; Weakening demand landscape for US slab market
January 6, 2023
ALERT! – CHINA TARIFFS.
1. LME prices drop below $2,230 per mton as sentiment deteriorates.
2. China’s aluminum price fails to sustain rebound, remaining at two-month lows.
3. ALERT! – CHINA TARIFFS. China hikes tariff on P1020 exports; no market impact expected by HARBOR.
4. ALERT! - US SLAB. SLOW START: Weak Q1 2023 slab market start.
5. LME Cash–3M contango narrows but remains close to break-even levels.