1. LME price rises and nears the $2,700-2,750 per mton target range.
LME Cash aluminum prices closed the session up 1.1% or $30 per mton, at $…
2. LME October–November backwardation intensifies (bearish for P1020 premiums) as the concentration of October longs increases further.
The Cash-3M contango widened marginally to $8.66 per mton (a 1.3% annualized yield), from…
3. SPECIAL ALERT! – US PORT STRIKE. NO BUENO: US port strike will impact certain aluminum imports.
US aluminum imports of aluminum flat rolled products (common alloy, cansheet, finstock, foil) as well as PFA and wire rod to be seriously impacted.
4. RERUN: ALERT! – US BILLET. DETERIORATION: US extruders dealing with weakening demand.
For more details, please see HARBOR’s “ALERT! – US BILLET” released on Monday.
5. UPDATE! – SMELTING PRODUCTION COSTS. INCREASE CONTINUES: World smelting costs at 16-month high.
For more details, subscribe to HARBOR’s specialized “Aluminum Smelting Cost” report
6. The Shanghai Futures Exchange (SHFE) was closed today due to China’s National Day weeklong holiday. Trading will resume on Tuesday, October 8.