July 5, 2023
ALERT! MEXICO SCRAP.
1. LME Cash price slides below $2,100 per mton as demand contraction keeps pushing prices toward HARBOR’s $… per mton target zone.
2. SHFE aluminum prices down and testing the low end of their multi-month trading range.
3. ALERT! MEXICO SCRAP. NEW LOWS: UBC prices fall to new lows at the consumer level; prices poised for another slide this month.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
4. UPDATE! – WORLD SMELTING PRODUCTION COST. DOWN $… per mton: Drop in world aluminum smelting costs intensified in June.
For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.
5. LME Cash-3M contango yield rises to three-month highs, supportive of inventory financing deals.