1. ALERT! – US TARIFFS ON CANADA. President Trump is not likely to hit Canada with tariffs (bearish MW Premium).
President Trump is not likely to hit Canada with Tariffs, HARBOR’s analysis indicates. Our reading of Trump’s campaign promises, latest speeches, his team’s statements and our own game theory analysis continue to lead us to believe that…
2. LME price rises but fails to hold above the $2,700 per mton technical resistance level.
LME 3M aluminum prices closed at a two-month high of $… per mton, up 0.3% or $… per mton from Friday. Prices tested new two-month intraday high levels of $…
3. China’s aluminum price retreats from six-week highs.
SHFE front-month aluminum prices closed today’s session virtually unchanged at… yuan per mton after retreating from early-session highs of… yuan per mton level. Downward pressure from technical selling and falling alumina prices…
4. ALERT! – MEXICO EXTRUSION SCRAP. FALLING OFF: Clean 6063 scrap prices weaken from six-month highs.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
5. UPDATE! – ALUMINA PRICE. ONGOING DECLINE: Alumina down to $….
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6. LME Cash-3M and far-end contangos tighten to single digits (bearish P1020 premiums).
The Cash-3M contango tightened to a three-month low of $… per mton (a 1.4% annualized yield) from Friday’s $… per mton as the March backwardation…