July 24, 2023
ALERT! – BRAZIL.
1. LME price hardly changed as demand contraction lingers.
2. SHFE aluminum prices range-trade amid skepticism about economic stimulus.
3. RERUN: ALERT! & ANALYSIS! WORLD BILLET & SLAB. WORLD’S LARGEST AND GREENEST: Rio Tinto buys 50% of Matalco for $… million.
For more details, please see HARBOR’s ALERT! & ANALYSIS! WORLD BILLET & SLAB was released last Friday, July 21, 2023.
4. ALERT! – BRAZIL. FURTHER DOWN: Brazil’s billet premiums decline to as low as $… per mton.
5. LME Cash-3M contango yield rises above 8% annualized, supportive of inventory financing deals.