1. UPDATE! – US TARIFFS ALERT. ONLY 25%, NOT 50%: US imposes tomorrow a 25% Tariff on Canadian aluminum, not 50%.
Starting tomorrow, a US Section 232 Tariff of 25% will be paid on all US imports of aluminum products, with no new product exclusions nor country exemptions. The US MW P1020 Spot Premium is expected by HARBOR to rally toward… cent/lb as this Tariff takes effect.
2. LME price continues to hover around the technical resistance zone of $2,700-2,750 per mton.
LME Cash aluminum prices closed the session up 0.4% or $… per mton, at $… per mton. Prices recovered the ground lost yesterday amid support from a weaker US dollar, which fell to a fresh four-month low against the euro, while oil prices continued to…
3. ALERT! – EUROPEAN EXTRUSION SCRAP. DEMAND PLUMMETS: Extrusion scrap consumers in the driver’s seat, for now.
For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.
4. LME Cash-3M backwardation intensified to three-week highs as March-April conditions tighten (bearish P1020 premiums).
The Cash-3M backwardation intensified to a three-week high of $… per mton, from $… per mton previously, as tightness intensified ahead of April. The March–April backwardation intensified to $… per mton from $…
5. China’s aluminum declined amid lingering demand concerns.
SHFE front-month aluminum prices closed today’s session down 0.5% at… yuan per mton. Prices continued to face downward pressure from …