US spot billet upcharge at fresh record high; LME prices targeting $… per mton

1. LME prices up by 3% and targeting $… per mton resistance zone target.

2. US BILLET ALERT. UP AGAIN: US spot billet upcharge up to as high as… cent/lb.

3. US SCRAP UPDATE. The battle for scrap, tighter discounts seen in 2022.

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4. China’s aluminum prices outperform and reach new two-month highs.

5. LME Cash–3M contango still unsupportive for P1020 premiums; warrant cancelations continue in Asia.

More details in full report.