LME price spikes to resistance level; US EC rod 2023 contract premiums spike to record highs

1. LME price rallies… % to close within the key resistance zone of $… per mton.

2. US WIRE ROD ALERT. ALL-TIME HIGHS: US EC rod 2023 contractual upcharge jumps to… cent/lb, the highest premium level on record.

3. China’s aluminum price up and approaching expected resistance.

4. LME Cash–3M contango widens but remains in single digits amid steep tightness after December (bearish premiums).