LME prices plummets below key $… per mton level; China announces more aluminum recycling projects

1. LME prices down $… per mton below $… per mton amid demand concerns.

2. China’s aluminum prices retreat from a six-week high.

3. CHINA SCRAP ALERT. MORE CHINESE RECYCLING: Another 300 kmtpy recycling projects announced.

4. US EC WIRE ROD ALERT. RISING DEMAND AND DOMESTIC PRODUCTION: Strong EC rod demand momentum and higher US rod production aligning in 2022.

5. LME Cash‑3M contango widens above $… per mton, now wide enough to profitably finance new cash-and-carry deals (P1020 premium supportive).

More details in full report.