1. LME price up… % on rumors of a potential US ban on aluminum imports from Russia—not bullish for LME prices nor MW/billet/PFA premiums in our view, as any US restrictions (if imposed) would not be enough to alter the expected aluminum demand contraction and metal surplus ahead.
2. ALERT! – US ALUMINUM. MORE RESTRICTIONS ON RUSSIA CONSIDERED.
For more details, please see HARBOR’s full ALERT! – US ALUMINUM released earlier today.
3. ALERT! – US BILLET. MOUNTING BEARISH PRESSURE: Plummeting billet premiums around the world adds bearish pressure on US billet.
4. NORTH AMERICA PFA ALERT. PFA BEARISH PRESSURE: Downside pressure intensifies on PFA 2023 upcharge.
5. China’s aluminum prices post limited rebound; range-trading conditions prevail.
6. ALERT! – US ROLLING MILL. INCREASINGLY BEARISH: Conversion prices for 5052 common alloy sheet/coil fall as much as… %.
For more details, please subscribe to HARBOR’s specialized Aluminum Rolled Products Intelligence Report.
7. LME Cash–3M spread tightens to a double-digit backwardation.