ALERT! – LME PRICE.
1. ALERT! – LME PRICE. LME prices climb further amid inflation data suggesting the Fed may be done raising interest rates (which has paradoxically been historically bearish). Strong technical resistance is expected at the $.. per mton zone as a medium-term downward correction continues to target the $… per mton zone.
2. SHFE aluminum prices up to a three-week high, testing technical resistance levels within their one-year-old trading range.
3. ALERT! – EUROPEAN BILLET. SHARP DEMAND DETERIORATION: Billet demand and premiums deteriorate further, extrusion conversion prices down again.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
4. ALERT! – MEXICO SCRAP. PRESSURED DOWN: Old cast prices fall to 11-month lows amid confluence of factors.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
5. LME Cash-3M contango holds above $… per mton amid fresh inventory inflow in South Korea.