1. LME price decline continues toward the low end of the $2,500-2,750 per mton range.
LME Cash aluminum prices closed the session down 1.1% or $… per mton, at a new one-week low of $… per mton. Prices fell to a fresh two-week low today, accumulating a…
2. The Shanghai Futures Exchange (SHFE) was closed due to China’s week-long New Year holiday. Trading will resume on Wednesday, February 5, 2024.
3. LME Cash-3M contango remains near the tightest in three-month lows (bearish P1020 premiums).
The Cash-3M contango tightened again to $… per mton (a 1.2% annualized yield) from $… per mton previously. Nearby spreads remain close to Friday’s three-month low of $…
4. RERUN: SPECIAL ALERT & ANALYSIS! – US TARIFFS. TARIFFS SEEM LIKELY ONE WAY OR THE OTHER: Trump’s trade agenda signals higher margins for US producers.
For more details, please see HARBOR’s “SPECIAL ALERT & ANALYSIS! – US TARIFFS” released Thursday, January 23, 2025.
5. ALERT! – US PAINTED SIDING. WINTER HEATS UP: Painted siding follows on the heels of UBC.Overall lack of wrought scrap boosts siding. For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.