1. LME prices fell back toward four-month lows amid a sharp pullback from $… per mton, as the Fed’s aggressive tightening plans were taken by the market as bearish. Door for $… per mton could technically open tomorrow.
2. China’s aluminum prices resume trading plunging to new four-month lows.
3. LME Cash–May contango narrows, but spreads through July remain loose; easing of far end backwardations continues.
4. GREEN ALUMINUM MONITOR: Aluminum industry goes after recycling assets.
For more details, please see HARBOR’s “Green Aluminum Monitor” released earlier today.
5. RERUN: US MW PREMIUM ALERT. NEW RECORD HIGHS: MW premium gaps up to 42.30 cent/lb.
For more details, please see HARBOR’s “US MW PREMIUM ALERT” released yesterday.
6. US SCRAP ALERT. FALLING FAST: Twitch prices fall to the mid 80s cent/lb range.
For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.