LME price reverses rally as world aluminum demand contracts further
SHFE aluminum prices fall after facing technical resistance.
LME nearby contango widens to $50 while LME price falls by $50 per mton on growing surplus
LME price falls to two-week lows as demand contraction expected to linger.
LME price climbs to three-week highs; LME Cash-3M contango narrows
LME prices remain in a medium-term downward trend, now targeting the $… per mton zone. Prices fell in early July to a fresh nine-month low of…
PRODUCTION GROWTH DOUBLING. World Primary Aluminum Production Growth Pace to Double in H2 2023
World primary aluminum production growth rate is set to accelerate in 2H ‘23 toward 2.8% y/y, up from an estimated expansionary pace of…
IN CORRECTION MODE… AS HARBOR ANTICIPATED. Aluminum’s Industry Landscape & Price Outlook 2023-24
Aluminum’s Industry Landscape & Price Outlook 2023-24
US & Mexico Weekly ScrapReport (June 28, 2023)
MORE APPOINTMENTS. Appetite for August UBC deliveries slightly up, discounts unchanged.
LME price extends bounce; MW premium quotes impacted by scrap tightness
LME Cash aluminum fell in weekly terms by $28 per mton or 1.1%. Prices continued to be supported by bets that China will announce a major fiscal stimulus package tomorrow.
LME price rebounds from two-week lows
Prices have yet to re-attempt breaching the cyclical resistance zone of $2,700 per mton.
LME price falls further and reaches $2,500 per mton zone
A breach below technical support at $2,500-2,550 per mton would open the door for $… per mton.