1. LME Cash price hovers around $… per mton, remains technically in full bearish mode.
2. ALERT! – US MW PREMIUM-from HARBOR’s Pricing Unit. FALL CONTINUES: MW premium plummets to three-year lows of… cent/lb.
3. ALERT! – US BILLET. DEMAND STILL DEPRESSED: US billet demand remains under pressure, with no upside momentum expected in the short term.
4. ALERT! – US EXTRUSIONS. DELAYED AGAIN: Preliminary antidumping duty decision on US imports of extrusions postponed.
5. ALERT! – US EXTRUSIONS SCRAP. SLIGHTLY UP: Extrusion scrap up to 9-month highs, still down y/y.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
6. UPDATE! – SMELTING PRODUCTION COSTS. SMELTING COST DECLINE CONTINUES: Falling energy costs pushing further down world aluminum smelting costs.
For more details on world aluminum smelting cost trends and figures, subscribe to HARBOR’s “Aluminum Smelting Cost” report.
7. LME Cash-3M contango tightens to a new thirteen-week low of $… per mton, far-end spreads also narrow (bearish P1020 premiums).
8. The Shanghai Futures Exchange (SHFE) was closed due to China’s week-long New Year holiday. Trading will resume on Monday, February 19, 2024.