LME price falls to one-month lows; shipping price fall pressuring down European premiums

1. LME price extends pullback as primary aluminum is not seen included in the next round of US and EU sanctions on Russia. Prices continue to technically target $… per mton in the short term.

2. China’s aluminum price falls and tests technical support levels again.

3. ALERT! – EUROPE P1020. BEARISH PRESSURE BUILDING UP? European P1020 duty-paid premiums unchanged as container rates fall further, duty-unpaid still increasing.

4. ALERT! – GREEN ALUMINUM. GOING GREENER: Rio Tinto to produce Green Aluminum in Queensland, Australia.

For more details, subscribe to HARBOR’s specialized “Green Aluminum Monitor” reports.

5. LME Cash-3M contango widens to new one-month highs despite rise in canceled warrants.