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    CRU

    June 23, 2023

    CRU: June’s Early Optimism Fails To Sustain LME Price Rally

    Written by Stephen Williamson

    CRU research manager Stephen Williamson shares an update on the aluminum market and pricing with SMU readers. This article was written

    The LME rallied in the days following the debt ceiling resolution by Congress and the price of aluminum pressed towards $2,300 per metric ton. This week, however, the price fell back through a key support point at $2,225 at mid-week before falling below $2,200 on Friday, June, 23, without any demand support to sustain the positive sentiment.

    Stephen Williamson

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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.