1. LME price rises to three-week highs, short-term range-trading continues.
2. ALERT! – US MW PREMIUM – from HARBOR’s Pricing Unit. TWO-YEAR LOWS: MW spot premium falls to… cent/lb.
3. ALERT! – US 6063 SCRAP. 2024 UNDER PRESSURE: Extrusion scrap discounts may widen for 2024 biz.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
4. UPDATE! – WORLD SMELTING PRODUCTION COST. TWO-YEAR LOWS: World aluminum smelting costs end August down… % y/y; m/m costs are stabilizing at two-year lows.
For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.
5. LME Cash-3M contango narrows slightly and remains supportive of financing deals amid ample metal availability.
6. SHFE aluminum prices rise and reach the upper end of the one-year-old trading range.