CRU aluminum: US Midwest premium remains slow in beginning of 2024

The LME three-month price was broadly stable on the morning of Jan. 19. It was last seen trading at $2,170 per metric ton (mt). The $2,200/mt level is now acting as a resistance it seems, but the break of the previous support level has not inspired a sell-off, at least not for now.

Aluminum
Brazil
Construction
Contracts
CRU
Decarbonization
demand
Prices
US

Meanwhile, SHFE cash was also stable on Friday, with RMB19,000/mt also acting as a resistance. The cash contract settled at RMB18,675/mt and last traded at RMB18,675/mt.

Marziyeh Horeh

Marziyeh Horeh is an aluminum analyst at CRU. She covers extrusions and the secondary market in North America. Prior to joining CRU in August 2023, Marziyeh was a post-doctoral fellow at Purdue University focusing on the economics of climate change and sustainability. Marziyeh holds a PhD in Natural Resource Economics from West Virginia University.