1. LME price up 2% as rally continues, completion of top formation expected during Q1 2022.
2. China’s aluminum prices remain near three-month highs.
3. EUROPEAN P1020 ALERT. ANOTHER SIX-YEAR HIGH: Europe P1020 premiums rise further amid a compilation of bullish factors.
4. RERUN: BRAZIL ALUMINUM ALERT. EXPORT DRIVEN: Brazil’s billet exports growing to multiyear highs amid depressed domestic demand.
5. MEXICO SECONDARY SCRAP UPDATE. STARTING TO IMPROVE: Demand for RSI, old cast and twitch slowly increasing.
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6. LME Cash–3M backwardation intensifies above $… per mton as conditions ahead of March tighten sharply (bearish for P1020 spot premiums).
More details in full report.