ALERT & ANALYSIS! – US ALUMINUM.
December 13, 2023
-
LME prices soar back to the $… per mton resistance zone after virtually reaching HARBOR’s $2,000 per mton target zone earlier this week.
-
China’s aluminum price holds at two-week highs despite mixed economic data.
-
ALERT & ANALYSIS! – US ALUMINUM. US TAX CREDIT FOR SMELTERS: US P1020 and Purity aluminum producers could get $… million per year.
-
ALERT & ANALYSIS! – UK SANCTIONS. NO REAL IMPACT: UK announces new sanctions on Russian metal, no significant impact expected.
- LME Cash-3M contango remains wide at $… per mton amid loose physical market conditions.
- ALERT!– EUROPE SCRAP. SECONDARIES STEP IN: Lower LME, wide spreads and scant demand allow secondaries to buy extrusion scrap.
For more details, subscribe to HARBOR’s specialized “ Europe Scrap Intelligence” reports.