1. LME price remains unable to break above the key cyclical $2,700-2,750 per mton resistance zone.
LME Cash aluminum prices closed the session down 0.4% or $11 per mton, at $…per mton. Meanwhile, LME 3M prices closed at $… per mton, remaining unable to technically break above $2,700 per mton. Aluminum fell along with the rest of the industrial commodities complex amid concerns about…
2. ALERT! – US BILLET. RALLY CONTINUES AS EXPECTED: US spot billet upcharge reaches… c/lb.
US extrusion and spot billet demand continues to strengthen, with an increasing number of US extruders seen rising order volumes, in some cases increasing as high as…
3. China’s aluminum price retreats from three-month intraday highs.
Prices erased early gains amid prevailing demand concerns. SHFE front-month aluminum prices closed today’s session marginally down at… yuan per mton, pulling back from a nearly three-month intraday high at… yuan per mton. Prices reversed initial gains amid disappointing…
4. ALERT! – EUROPEAN BILLET. EUROPEAN BEARISHNESS: Billet demand remains depressed with poor visibility.
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5. RERUN: ALERT! – EUROPE PRIMARY SCRAP. READY TO FLOW: European scrap suppliers preparing shipments to the US.
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6. ALERT! – MEXICO SCRAP. BACK TO SQUARE ONE: Mexico scrap exempted again from US Tariffs.
Mexican scrap exports back to being exempted from US Tariffs, which makes them highly attractive for US consumers once Section 232 Tariffs on primary aluminum increase to 25% on March 12. For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
7. UPDATE! – ALUMINA PRICE. FALL CONTINUES.
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8. LME Cash-3M backwardation at the tightest in two weeks (bearish P1020 premiums).
The Cash-3M backwardation intensified to a two-week high of $… per mton from $… per mton previously. The March–April backwardation intensified to $… per mton from $…