1. LME price remains in correction targeting HARBOR’s $… per mton zone.
2. SHFE aluminum prices regained some ground after testing one-week lows earlier this week.
3. ALERT! – EUROPEAN P1020. FOUR-MONTH LOWS: European P1020 premiums fall further.
4. ALERT! – EUROPEAN BILLET. BEARISH SENTIMENT: Deteriorating Q3 billet market landscape does not bode well for Q4 demand and premium level outlook.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
5. RERUN: ALERT! – US BILLET. YIELDING TO BEARISH PRESSURE: US extruders reduce workforce, billet spot offers fall to 10 cent/lb.
For more details, please see “ALERT! – US Billet” released yesterday.
6. ALERT! – EUROPEAN SCRAP. YIELDING TO DOWNWARD PRESSURE: Twitch prices fall to eight-month lows despite falling scrap supply.
For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.
7. LME Cash-3M contango reaches new three-month high above $… per mton amid ample and growing metal availability.