1. LME price rises to a two-week high as US refrains from imposing Tariffs on Mex/Can and as draft proposal to a gradual ban of Russian aluminum is circulated.
LME Cash aluminum prices closed today’s session at $… per mton, up 0.7% or $… per mton from yesterday. Prices increased to a two-week high amid news the US will delay tariffs on Canada and Mexico for at least 30 days. Aluminum and the rest of the base metals complex extended yesterday’s gains along with easing concerns about…
2. ALERT! – LME PRICE & EUROPEAN PREMIUMS. APPROVAL UNCERTAIN: EU discussing proposal for a phased ban on Russian aluminum.
HARBOR’s intel suggests the EU has already circulated a draft proposal considering…
3. ALERT! – US TARIFFS ON CHINA. BULLISH FOR US MILLS: US imposes an additional 10% Tariff on all imports from China.
Effective today, the US implemented a 10% Tariff on all imports from China, on top of existing…
4. LME Cash-3M backwardation intensifies to double digits (bearish P1020 premiums).
The Cash-3M backwardation intensified to $… per mton from Monday’s backwardation of $…per mton, as conditions ahead of…
5. The Shanghai Futures Exchange (SHFE) was closed due to China’s week-long New Year holiday. Trading will resume on Wednesday, February 5, 2024.