LME price climbs to three-week highs; LME Cash-3M contango narrows

1. LME aluminum prices climbed 3% today toward short-term resistance levels around $… per mton. However, the underlying longer-term correction continues.

2. SHFE aluminum prices climb toward short-term technical resistance levels.

3. ALERT! – US UBC SCRAP. STAYING WIDE: UBC Discounts hold at… cent/lb despite MWP drop.

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

4. ALERT! – US WHEEL SCRAP. SINKING: Wheels scrap prices down to one and a half year lows.

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

5. LME Cash-3M contango narrows some more but remains above $… per mton.

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