ALERT! – US MW PREMIUM – from HARBOR’s Pricing Unit.
1. LME price fell ahead of today’s Fed interest rate hike decision; restrictive monetary policy conditions remain bearish for aluminum demand and LME prices.
2. SHFE aluminum prices retreat toward the low end of their one-year-old trading range.
3. ALERT! – US MW PREMIUM –from HARBOR’s Pricing Unit. BELOW… CENT/LB: Spot MW premium range gaps down.
4. ALERT! – EUROPEAN P1020. DOWNTREND CONTINUES: European P1020 premiums fall to five-month lows.
5. ALERT! – EUROPE PFA. NEW LOW: $… PER MTON: European PFA spot premiums reach $… per mton.
6. ALERT! – COMMON ALLOY DUTIES. FINAL DETERMINATION OF CIRCUMVENTION: Chinese exports of 4017 alloy sheet to the US will become subject to AD/CVD duties on common alloy.
7. ALERT! – SOUTH AFRICA ROLLING MILL. STRIKE ENDED: Hulamin resumes operations after two-week strike.
For more details, please subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
8. ALERT! – US 5052 AND 3003 SCRAP CLIPS. WIDE DISCOUNTS CONTINUE: Common alloy scrap discounts above… cent/lb.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
9. UPDATE! – WORLD SMELTING PRODUCTION COST. PAUSE CONTINUES: World aluminum smelting costs steady at two-year lows.
For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.
10. LME Cash-3M contango unchanged, remains supportive of financing deals amid ample metal availability.