LME price trades near three-week lows; US scrap contract talks for 2024 start to slowly take shape

October 11, 2023

1. LME Cash price remains stuck below $… per mton, technical indicators continue to deteriorate.

2. China’s aluminum prices hold near two-week lows.

3. ALERT! – US SCRAP 2024 CONTRACTS. BABY STEPS: US scrap contract talks for 2024 start to slowly take shape.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

4. ALERT! – US A380. STABILIZING: SFA prices find support after initial strike impact.

For more details, subscribe to HARBOR’s specialized “US and Mexico Aluminum Scrap Intelligence” report.

5. ALERT! – GREEN AND ROLLING MILL. Novelis to power Bay Minette mill with renewable energy.

For more details, please subscribe to HARBOR’s specialized “Aluminum Rolled Products Intelligence” Report.

6. GREEN ALUMINUM SPECIAL ANALYSIS. DIVERGING: China importing only Green, Europe less Green.

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

7. LME Cash-3M contango tightens below $30 per mton, insufficient for cash-and-carry deals (bearish premiums).

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