LME price retreats to a two-week low; European billet premium decline extends

1. LME price down 2.8% this week, amid ongoing demand contraction.

2. China’s aluminum price ends the week below key technical resistance levels.

3. ALERT! – EUROPEAN BILLET. FREE FALL: Spot and Q1 2023 premium’s decline extends.

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

4. ALERT! – EUROPEAN SCRAP. SOME SUPPORT EMERGES: Prices for secondary scrap and ingot rise.

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5. LME Cash–3M contango loosens further to six-month highs; yields still unprofitable for cash-and-carry deals.