August 11, 2023
ALERT! – US SFA.
1. LME price breaks below the short-term narrow trading range. HARBOR continues to see LME prices target $… per mton before year-end.
2. ALERT! – US SFA. A380 CONTRACTUAL WEAKNESS: Spot and now contractual SFA demand falling.
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3. ALERT! – MEXICO SECONDARY SCRAP. CANNIBALIZED: Mexican consumers keep favoring imported units over domestic supply.
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4. LME Cash-3M contango widens above $… per mton, signals ample and growing metal availability.
5. SHFE aluminum prices retreat toward two-week lows.