1. LME price slightly higher today and w/w but unable to penetrate inside a key cycle resistance zone.
LME Cash aluminum prices closed today at $2,642 per mton, up…
2. LME Oct–Nov backwardation hardly changed as short squeeze continues (bearish for P1020 premiums).
The Cash-3M contango closed the week widening marginally to $10.94 per mton…
3. SPECIAL ALERT! – US PORT STRIKE. CRISIS AVERTED: US port strike ends with labor agreement reached.
Labor strike that temporarily halted operations in US East and Gulf Coast container ports since Tuesday has come to…
4. ALERT! – EUROPEAN BILLET. SOME SUPPLIERS FEEL IT MORE: Demand weakens, supply competition toughens.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
5. ALERT! – EUROPE UBC. TIGHTNESS CONTINUES: UBC discounts widen marginally despite higher LME prices.
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6. The Shanghai Futures Exchange (SHFE) was closed today due to China’s National Day weeklong holiday. Trading will resume on Tuesday, October 8.