LME and SHFE prices reach the upper end of their respective ranges; European billet premiums fall further

NOTE. HARBOR’s Daily Aluminum Commentary will not be published on Monday due to Labor Day.

1. LME prices close at one-month highs amid China aluminum price rally.

2. SHFE aluminum prices climbed to a fourteen-month high today, reaching the top of their trading range in the past year.

3. ALERT! – EUROPEAN BILLET. AT $… PER MTON: EU regional billet premiums reach $… per mton.

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4. LME Cash-3M contango widens further above $45 per mton amid ample and growing metal availability.