LME price plunges back; Rotterdam P1020 premium plummets to $… per mton

1. LME prices plunges after the Fed signaled higher-for-longer interest rate levels.

2. ALERT! – EUROPEAN P1020. FRESH TWO-YEAR LOWS: Rotterdam duty-unpaid P1020 premium plummets to $… per mton.

3. ALERT! – EUROPE SLAB. BEARISH SLAB OUTLOOK: European 2024 slab upcharges set to fall further.

4. ALERT! – US SCRAP WHEELS. FALLING FAST: US wheel scrap demand crumbles on UAW strike.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

5. LME Cash-3M contango remains wide amid ample metal availability.

6. SHFE aluminum prices still below medium-term resistance levels.