LME price drops to new five-week lows as inventories surge to 10-month highs

 
ALERT! – MORE ALUMINUM BUILDUPS.

1. LME price declines further amid ongoing buildups in Asia and monetary tightening concerns.

2. ALERT! – MORE ALUMINUM BUILDUPS. Aluminum inventories rise (again), up the most in five years.

3. China’s aluminum prices near one-month lows.

4. ALERT! – CHINA EXPANDING ALUMINA & ALUMINUM PRODUCTION. MORE SUPPLY COMING. Chinese alumina and aluminum expansions pick up.

5. ALERT! – EUROPE PFA. SLIGHT OUTPERFORMANCE. European PFA spot demand improving but still faces challenges ahead.

6. ALERT! – EUROPE ROLLING MILL. DADA Holdings ups stake at Fusina rolling mill. Acquires controlling stake in Niche Fusina Rolled Products.

7. ALERT! – US WIRE ROD. CALM AND STEADY. US EC rod market quiet; some offshore producers with long lead times.

8. LME Cash–3M contango tightens amid February’s third-Wednesday settlement, now unattractive for inventory financing deals.

 

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