1. LME price hardly changed this week amid subdued trading volumes; remains in bearish mode targeting… per mton.
2. LME Cash-3M contango tightens below $20 per mton amid February-March backwardation (bearish for P1020 premiums).
3. ALERT! – EUROPEAN BILLET. FIVE-MONTHS HIGHS: Q2 contractual billet premiums reach $510 per mton, extruders shifting business to European suppliers.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
4. ALERT! – EU SECONDARY SCRAP. POOR ACTIVITY, STABLE PRICES: D226 and twitch prices unchanged amid nil spot deals.
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5. ALERT! – US ROLLING MILL. US MILL CAPEX COST INFLATION: Novelis and Aluminum Dynamics see higher-than-expected capex costs for their new US mills.
For more details, please subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
6. ALERT! – MEXICO UBC. SLOWLY UP: Mexico’s UBC prices up to… cent/lb on heated competition but discounts remain close to… cent/lb.
For more details, subscribe to HARBOR’s specialized “ US and Mexico Aluminum Scrap Intelligence” report.
7. ALERT! – MEXICO OLD CAST. IMPORT ARBITRAGE STILL OPEN: Mexico’s old cast prices are still above US and Asia.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
8. The Shanghai Futures Exchange (SHFE) was closed due to China’s week-long New Year holiday. Trading will resume on Monday, February 19, 2024.