1. LME prices continue to test the technical resistance zone of $2,500-2,550 per mton zone, as the Fed cuts 50 bp and signals more coming (historically bearish for aluminum prices).
LME Cash aluminum prices closed the session up 0.5% or $13 per mton, at $…
2. China’s aluminum prices continue to test technical resistance levels.
SHFE front-month aluminum prices closed today’s session up 0.6% at…
3. ALERT! – US PRIMARY. NO EXEMPTIONS GIVEN: S. 2 32 exemption approvals disappear.
The US Department of Commerce is denying all requests for Section 232 Tariff exemptions on primary aluminum products, including high-purity aluminum. One origin impacted the most.
4. ALERT! – US IRONY EXTRUSION SCRAP. DEMAND COOLS: Poor 6XXX shred demand hits irony extrusions.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
5. ALERT! – GREEN & SCRAP. MORE RECYCLING CAPACITY: Constellium opens new 130k mtpy recycling center.
For more details, subscribe to HARBOR’s specialized “Green Aluminum Monitor” reports.
6. ALERT! – ALUMINA & BAUXITE. GETTING READY FOR SOMETHING BIGGER: Ma’aden gets full control of its aluminum upstream assets.
For more details, subscribe to HARBOR’s “Alumina & Bauxite Intelligence” reports.
7. LME Cash-3M contango tightest in three weeks as October-November backwardation persists (bearish premiums).
The Cash-3M contango narrowed to $11.03 per mton (a 1.6% annualized yield), the tightest in…