1. LME aluminum price ends the session higher amid ongoing trade talks between the US, Canada and Mexico.
LME Cash aluminum prices closed the session up 1.4% or $.. per mton, at $… per mton. LME 3M aluminum prices fell early in the session to an intraday low of $… per mton, reflecting the market’s initial reaction to President Trump’s tariffs announcements over the weekend. However, aluminum, copper and zinc prices …
2. LME Cash-3M in backwardation.
The Cash-3M spread in backwardation for the first time since April 2024. The Cash-3M spread tightened to a backwardation of $… mton, from Friday’s contango of…
3. ALERT! – US TURNINGS. SUPPLY FREEZES UP: Cold hits turnings generation.
For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.
4. RERUN: ALERT! – EUROPEAN BILLET. BELOW $…: March contractual premiums down to as low as $…/mton.
To see our full European Billet Market Intel and Premiums assessment, subscribe to HARBOR’s specialized “European Billet Intelligence” reports.
5. UPDATE! – ALUMINA PRICE. Alumina falls to $… as correction continues.
LME alumina prices are down… % from December’s peak levels, more declines expected. For more details, subscribe to HARBOR’s “Alumina & Bauxite Intelligence” reports.
6. The Shanghai Futures Exchange (SHFE) was closed due to China’s week-long New Year holiday. Trading will resume on Wednesday, February 5, 2024.