November 1, 2023
ALERT! – EUROPE SLAB.
- LME prices declined for a third consecutive session amid bearish demand signals.
- China’s aluminum price still capped at technical resistance zone.
- ALERT! – EUROPE SLAB. LOWER FOR LONGER: European 2024 common alloy slab upcharge down by as much as 100 euros per mton.
- ALERT! – US MILL-GRADE OLD SHEET. SCARCE: Tightness holds old sheet spreads up.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
- LME Cash-3M contango yield remains uneconomic for cash-and-carry deals (bearish premiums).