LME price fall continues amid world demand contraction; US extrusion contraction worsens

1. LME price continues to retreat from one-month highs amid demand contraction and technical selling at the upper end of our expected range ($… per mton).

2. ALERT! – US BILLET. MULTIYEAR LOWS: US extrusion contraction gets worse.

3. China’s aluminum prices stuck below technical resistance zone.

4. UPDATE! – WORLD SMELTING PRODUCTION COST. FREE FALL: Aluminum smelting costs falling almost uninterruptedly.

For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.

5. LME Cash–3M contango widens further, remains attractive for short-term cash-and-carry deals.