1. SPECIAL ALERT & ANALYSIS! – US TARIFFS. TARIFFS SEEM LIKELY ONE WAY OR THE OTHER: Trump’s trade agenda signals higher margins for US producers.
The potential for new US Tariffs and/or trade restrictions have spiked since Monday evening. Everyone, except President Trump’s inner circle, seems to be in the dark about what is coming…
2. LME 3M price declines and remains over $100 per mton below Monday’s two-month highs, testing the middle of the $2,500-2,750 per mton trading range.
LME 3M aluminum prices fell for a third-consecutive session, closing at $… per mton, down $… per mton from yesterday. Prices fell early in the session to a new one-week intraday low of $…
3. China’s aluminum price falls to fresh two-week lows on deteriorating fundamentals.
SHFE front-month aluminum prices declined to… yuan per mton, a fresh two-week intraday low, before closing today’s session down 0.6% at… yuan per mton. Prices fell along with…
4. ALERT! EUROPE P1020. STANDBY: European P1020 premium unchanged amid opposing forces.
European P1020 premiums are trading sideways as the market waits for…
5. LME Cash-3M contango is again at a single-digit amid highly concentrated warrant holdings (bearish P1020 premiums).
The Cash-3M contango tightened sharply to a three-month low of $… per mton (a 1.3% annualized yield) from $… per mton previously, amid tightening conditions after…