LME prices up despite record inventory spike but below key resistance

1. LME prices rise but remain unable to retest $… per mton.

2. LME INVENTORY ALERT. BUILDUP IS NOT BEARISH: Record spike in LME inventories after backwardation.

3. US BILLET ALERT. NEW ALL-TIME HIGHS (AGAIN): Billet spot premiums jump to… c/lb.

4. LME Cash–3M contango at the widest spread in five months as nearby tightness eases.

5. EUROPEAN ROLLING MILL ALERT. FRP TIGHTNESS HERE TO STAY: European supply not keeping up with demand. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

6. China’s aluminum prices bounce back toward a nine-year high.

More details in full report.