1. LME prices unchanged amid demand contraction, plunging oil prices, and technical selling.
2. RERUN: ALERT! – LME PRICE. CHINA’S DEMAND IN TROUBLE: Contraction returns to China, contrary to bullish bets.
3. ALERT! – US BILLET. Q1 EXTRUSION DEMAND AT THE LOWEST SINCE 2014: US spot billet premium reaches… c/lb, contract 2023 premiums at… cent/lb.
4. ALERT! – US UBC. EXTENDED WEAKNESS & DISCOUNTS: US UBC spot demand not improving, discounts at… cent/lb.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” reports.
5. ALERT! – MEXICO SCRAP. Substitution: Consumers favoring twitch over old cast units.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” reports.
6. LME Cash–3M backwardation narrows from double-digits as May-June tightness eased (still bearish P1020 spot premiums).
7. The Shanghai Futures Exchange (SHFE) was closed today due to China’s Labor Day holiday. Trading will resume on Thursday, May 4.