July 3, 2023
ALERT! – EUROPEAN GREEN & SCRAP.
Special Note: HARBOR’s Daily Aluminum Commentary will not be published on Tuesday, July 4, due to the US Independence Day holiday.
1. LME prices hold near recent nine-month lows amid contracting end-user demand and technical bearishness.
2. SHFE aluminum prices unable to exit the low-end of their multi-month trading range.
3. ALERT! – EUROPEAN GREEN & SCRAP. ENERGY PROVIDER INVESTS IN GREEN ALUMINUM: Iberdrola takes a 20% stake in Latem Aluminium
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4. LME Cash-3M contango widens to fresh highs since early April, supportive of inventory financing deals.