ALERT! – CHINA IMPORTING MILL SCRAP FROM NORTH AMERICA
1. LME prices fall amid inventory buildups; technical stage set for a price breakout soon.
2. ALERT! –CHINA IMPORTING MILL SCRAP FROM NORTH AMERICA: China now buying MLCs and 6061 SPC scrap from Mexico and Canada.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
3. ALERT! – US ROLLING MILL. BEARISH OUTLOOK: US common alloy conversion price declines set to continue into 2024.
For more details, please subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
4. RERUN: ALERT! – US BILLET. NO RECOVERY EXPECTED: US billet spot offers reach… cent/lb; there is poor appetite to lock in 2024 business.
For more details, please see HARBOR’s “Alert! – US Billet” released last Friday.
5. ALERT! – US PFA. BEARISH IMPACT: Ongoing UAW strike impacting PFA demand.
6. ALERT! – US WIRE ROD. ADJUSTING DOWN: US EC wire rod 2024 premiums expected to decline.
7. ALERT! – US TWITCH. DUELING FORCES: Twitch prices rise for now despite UAW strike.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
8. ALERT! – MEXICO UBC. UGLIER UBC MARKET: Mexico’s UBC prices fall further.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
9. SHFE aluminum fall but remain at the upper end of their trading range.
10. LME Cash-3M contango widens from two-week lows; yield remains supportive for cash-and-carry deals.