LME price up from nine-month lows; Canada billet demand in contraction

1. LME prices rose after having unleashed yesterday a new bearish target of $2,000-1,800 per mton.

2. SHFE aluminum prices bounce after testing one-month lows yesterday.

3. ALERT! – US BILLET. CANADIAN CONTRACTION: Canadian B&C billet demand fall sharpens.

4. ALERT! – EUROPE PFA. MISPLACED OPTIMISM? European PFA consumers remain mostly optimistic, despite developing regional auto challenges.

5. ALERT! – US UBC. PAUSE: Mill return steadies spot UBC prices.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

6. ALERT! – MEXICO SCRAP. MORE SIGNS OF WEAKNESS: Domestic scrap dealers/brokers lower prices, UBC demand weakness persists.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

7. UPDATE! – WORLD SMELTING PRODUCTION COST. FALLS MORE: World’s aluminum smelting costs reach a fresh multi-year low.

For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.

8. LME Cash-3M contango narrows towards breakeven levels; canceled warrants spike in South Korean LME warehouses.