March 2, 2022
EUROPEAN P1020 ALERT.
1. LME 3M prices reached fresh all-time highs at $… per mton amid ongoing fears of logistics disruptions, soaring energy prices and strong speculative appetite for commodities.
2. China’s aluminum prices test a four-month high.
3. EUROPEAN P1020 ALERT. WAR SHOCK: European P1020 premiums jump, considerable upside seen ahead.
4. EUROPE CAN ALERT. WAR SHOCK: Common alloy sheet/coil conversion prices may increase another… % on current LME and MW levels.
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5. LME Cash–3M backwardation eases sharply as tightness ahead of March recedes; LME warrant cancelations spike by the most in eight months.
More details in full report.