LME prices close week above $… per mton; US Billet upcharges for 2024 fall to as low as… cent/lb
1. LME prices bounce back to the two-week high zone.
2. China’s aluminum price return to levels above the six-week low zone.
3. ALERT! – US BILLET. UNDER PRESSURE: 2024 contractual billet tolling fee falls to low…, upcharge to as low as… cent/lb.
4. ALERT! – US PFA. DOBLE WHAMMY: US PFA imports expected to be impacted by bearish demand and war.
5. ALERT! – EUROPEAN BILLET. BEARISH PAUSE? European spot billet premiums unchanged for first time since mid-August.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
6. ALERT! – EUROPE SCRAP. TIGHTER MARGINS: Domestic consumers preparing for weaker demand and tighter scrap supply.
For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.
7. SPECIAL ANALYSIS! – US ROLLING MILL CONVERSION PRICES. HOW ACCURATE? HARBOR’s 2023 US rolling mill price forecasts vs actuals.
For more details, please subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
8. LME Cash-3M contango tightens further towards four-month lows, uneconomic for cash-and-carry deals (bearish premiums).