1. LME prices decline further as expected and confirm technical target of $2,300’s per mton zone.
LME 3M aluminum prices closed today’s session at $… per mton, down 1.7%, confirming a technical breach below $2,500 per mton and officially opening the door for a new short-term technical target at the $… per mton zone. Meanwhile, LME Cash aluminum prices closed the session down 1.8% or $…
2. ALERT! – US CANSHEET. US CAN IMPORTS NOW PAY TARIFFS: US adds aluminum cans to new Section 232 Tariff regime.
US Section 232 Tariffs of 25% with no exemptions nor exclusions to apply also on US imports of empty aluminum cans and beer. Effective April 4, the Tariff will apply unless the aluminum cans were made from aluminum smelted and cast in the United States.
3. ALERT! – US ROLLING MILL. NO IMPACT FROM RECIPROCAL TARIFFS: US reciprocal Tariffs specifically exclude aluminum imports.
For more details, subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
4. ALERT & ANALYSIS! –US FINSTOCK. US FIN MARKET UNDER STRESS: Closure of Fairmont to impact US finstock market.
For more details, subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.
5. ALERT! – EUROPEAN EXTRUSION SCRAP. BREATHING ROOM: Europe-to-US scrap export arbitrage closes.
For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.
6. LME Cash-3M contango continues widening to two-month highs but remain uneconomic for inventory financing (bearish P1020 premiums).
The Cash-3M contango widened further to a two-month high of $… per mton from $… per mton on Wednesday, amid easing conditions after May. The April–May contango narrowed to $…
7. China’s aluminum price retested technical support ahead of long weekend.
Prices slipped to a new eight-week low. SHFE front-month aluminum prices closed today’s session virtually unchanged at… yuan per mton, after briefly falling to an eight-week intraday low of…