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    CRU: Aluminum Price Climbs Higher

    Written by Greg Wittbecker


    By Stephen Williamson, CRU Research Manager, Aluminum

    Last week’s aluminum price below $3,000 per metric ton on the LME seemed like a bargain until it ran above $3,300 earlier this week. Yet, at week’s end, trading fell back to $3,050. Further confounding the market is magnesium supply and the prices raging on the hardener front. Fueled still by sustained energy constraints in China and tightening supply of alloy hardeners, global producers are scrambling to both secure physical metal supply and match all forward sales with bona fide supply. The price ended the week just over $3,100 and is supported there on the short supply of primary aluminum and key alloying hardeners, silicon (Si) and magnesium (Mg).

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    CRU: HR coil futures re-price 2027 forward curve

    CME Group’s hot-rolled coil futures have jumped higher as the loss of a reheating line at a large Southern mill have renewed domestic production issues. At market close on Oct. 12, the Q4'26 futures are now pricing in $1,295 per short ton (st) for HR coil, a month-over-month (m/m) increase of $63/st. For 2027, the forward curve is up $80 /st vs. September, at $1,207/st. For November 2026 through March 2027, prices are at an average just above $1,300/st.