1. LME prices up marginally after plunging by over $… per mton on Friday, still trading within key $… per mton range.
2. China’s aluminum prices rebound from one-week lows; key support levels hold.
3. EUROPE WIRE ROD UPDATE. GROWING GREEN APPETITE: 2022 EC rod green contractual upcharge jumps to as high as $… per mton.
4. EUROPE SLAB ALERT. TIGHTNESS: European slab tightness set to extend into 2022.
5. RERUN: ROLLING MILL ALERT. BETTING ON ALUMINUM AND CANS: Showa Aluminum to acquire aluminum division and can company from Mitsubishi.
For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
6. GREEN ALUMINUM MONITOR: The push for hydrogen.
EGA and Norsk Hydro are exploring to replace natural gas with hydrogen to lower carbon emissions. CBA expands production of green billet in Brazil. Europe’s EC rod aluminum market now paying the highest green upcharge.
For details, please see our “Green Aluminum Monitor” released earlier today.
7. LME Cash–3M backwardation eases but steep December–January backwardation persists (bearish P1020 premiums).
More details in full report.