1. LME price closes the week on a bearish note as demand contraction intensifies in Europe; levels above $… per mton continue to be seen as unsustainable at this point.
2. US MW PREMIUM ALERT-from HARBOR’s Market Intelligence Unit. MORE WEAKNESS: MW premium gaps down again amid oversupply conditions.
3. China’s aluminum prices end the week below medium-term technical resistance.
4. ALERT! – EUROPEAN BILLET. STANDSTILL: European spot billet premiums unchanged for the fifth consecutive week; Karmoy’s plant labor strike ends with no market impact.
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5. ALERT! – EUROPEAN SCRAP. LINGERING SURPLUS: Scrap consumers are still working through high inventories and late-2022 deliveries.
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6. LME Cash–3M contango narrows to five-month lows as May-June backwardation emerges; contango yields remain uneconomic for cash-and-carry deals.