LME price in bearish range-trading pattern; Extrusion and scrap demand not getting better in US nor in Europe

 
ALERT & ANALYSIS! – UK ALUMINUM IMPORTS.

1. LME prices continue to range-trade with a bearish bias as anticipated.

2. China’s aluminum prices stuck at the low end of their multi-month trading range.

3. ALERT & ANALYSIS! – UK ALUMINUM IMPORTS. NO IMPACT: UK to ban imports of Russian aluminum.

4. ALERT! – US BILLET. NOT GETTING BETTER: US extrusion demand remains depressed.

5. ALERT! – EUROPEAN BILLET. PREMIUM RELAPSES: Q3 contractual premium weakness re-emerges.

To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.

6. ALERT! – EUROPE SECONDARY ALLOY MARKET. TWO-YEAR LOWS: D226 falls below EUR… per mton, margins deteriorate.

For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.

7. ALERT! – EUROPE SEGREGATED SCRAP. FEWER HOMES: Demand for UBCs and 3xxx series scrap continues to fall.

For more details, subscribe to HARBOR’s specialized “Europe Scrap Intelligence” reports.

8. ALERT! – BRAZIL. BEARISH OUTLOOK: Brazil’s P1020 premiums near two-year lows.

9. LME Cash-June backwardation holds at double digits while the nearby short squeeze continues.

 

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