ALERT! – US BILLET.
1. LME price falls again as demand optimism dissipates amid US interest rate outlook. Fed’s restrictive policy stance is bearish for aluminum demand and LME prices.
2. SHFE aluminum prices rise toward short-term technical resistance.
3. RERUN: ALERT! – US MW PREMIUM –from HARBOR’s Pricing Unit. BELOW… CENT/LB: Spot MW premium range gaps down.
For more details, please see “ALERT! – US MW PREMIUM” released yesterday.
4. ALERT! – US BILLET. CONTRACTION SPREADS OUT: US extruders’ bearishness intensifies; Rio Tinto becomes the world’s largest and greenest billet/slab supplier.
5. ALERT! – 6063 EXTRUSION SCRAP. PROFIT SQUEEZE: Secondary billet producers under pressure across regions.
6. ALERT! – US UBC. MORE APPOINTMENTS: Appetite for August UBC deliveries slightly up, discounts unchanged.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
7. LME Cash-3M contango widens and continues to support financing deals amid ample metal availability.