ALERT! – EUROPEAN ROLLING MILLS.
September 25, 2024
1. LME price retreats amid bearish demand sentiment and prevailing technical resistance at $2,500-2,550 per mton.
LME Cash aluminum prices fell today by 0.6% or $16 per mton, closing at…
2. China’s aluminum prices trimmed gains amid skepticism over recent stimulus measures.
SHFE front-month aluminum closed the session up 1.2% at…
3. LME Oct–Nov backwardation holds at $9 per mton, Cash-3M contango remains unattractive for financing deals (bearish premiums).
The Cash-3M contango narrowed to $20.52 per mton…
4. ALERT! – EUROPEAN ROLLING MILLS. STABILIZATION FOR NOW: European CAC prices decline pauses, demand not in recovery yet.
For more details, subscribe to HARBOR’s specialized “ Aluminum Rolled Products Intelligence” Report.