1. LME prices recover part of the ground lost on Friday but remained below the key $… per mton resistance zone. Jury still out on the type and timing of a potential price top formation.
2. LME Cash–3M backwardation spikes to three-year high of $… per mton; bearish pressure on spot P1020 premiums. Expect more inventory buildups.
3. China’s aluminum prices bounce back and continue testing their current resistance zone.
4. EUROPE WIRE ROD ALERT. GAP UP: Short market and strong demand pushes EC rod premiums to as high as… euro.
5. BRAZIL ALUMINUM ALERT. FORCED INCREASE: Brazil’s P1020 premiums rising mainly due to offshore premium pressures.
6. US PFA ALERT. MORE HICCUPS: PFA demand upside momentum limited by lingering auto production issues.
7. US ROLLED PRODUCTS ALERT. Conversion prices set to climb further.
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