1. LME prices continue to decline inside of HARBOR’s forecasted $… per mton zone.
2. China’s aluminum prices fall to the low-end of their multimonth-old trading range.
3. ALERT! – US MW PREMIUM from HARBOR’s Market Intelligence Unit. BEARISH: MW discounts for term deals widen amid plunge in replacement costs and poor demand.
4. ALERT! – US BILLET. FURTHER DOWN: US 2023 contractual billet premium falls as low as… cent/lb.
5. ALERT! – EUROPEAN P1020. TRADING SIDEWAYS: More supply-side factors turning bearish for European P1020 duty-paid premiums.
6. ALERT! – EUROPE SLAB. POOR DEMAND: Challenging European spot slab demand conditions.
7. ALERT! – EUROPEAN BILLET. SPOT BELOW Q3: European billet spot market at a discount vs Q3.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
8. ALERT! – ALUMINA. BEARISH CLOUDS: Australia’s Kwinana refinery on track to restore alumina operations to full capacity (bearish for alumina prices).
For more details, subscribe to HARBOR’s “Alumina & Bauxite Intelligence” reports.
9. LME Cash–3M contango narrows to a five-month low as tightness ahead of June intensifies.