LME price down as selling re-emerges; LME Cash-3M contango widens

ALERT! – MEXICO UBC MARKET.
 

1. LME price falls amid technical selling pressure.

LME 3M aluminum prices closed the session down 0.7% or $… per mton, at $… per mton. LME Cash aluminum prices fell by $20 per mton to $… per mton. Prices experienced downward pressure during…

2. China’s aluminum prices edge higher to a new four-week high.

SHFE front-month aluminum prices closed today’s session up 0.2% at… yuan per mton, but trimmed gains in after-hours as…

3. LME Cash-3M contango widens to three-week highs, becoming supportive for inventory financing deals.

The Cash-3M contango steepened sharply to $.. per mton, from a near-three-month low of $… per mton previously, amid tomorrow’s settlement of January’s third Wednesday contract. The January–February contango widened to…

4. ALERT! – MEXICO UBC MARKET. BACK IN FULL STEAM: Demand for UBCs picks up, prices at new two-year highs.

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

5. ALERT! – ALERT! US TWITCH. SCROUNGING FOR UNITS: Twitch up on thin supply, but little else.

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

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