ALERT! – LME PRICE.
1. LME price falls to a new one-month low of $… per mton, down… % w/w and down… % since mid-January.
2. ALERT! – LME PRICE. SURPLUS BUILDUPS CONTINUE. Chinese aluminum inventories rise sharply.
3. China’s aluminum price falls to a three-week low, down… % since its most recent high amid profit-taking.
4. ALERT! – US BILLET. PRONE TO DISCOUNTS. US billet oversupply and discounting conditions linger, spot demand to increase ahead nevertheless.
5. MEXICO BILLET & P1020 ALERT. UNSOLD METAL PILING UP: Billet and P1020 inventories spike at Mexican ports amid unsold metal units.
6. ALERT! – EUROPEAN BILLET. Q2 PREMIUMS STABLE, SPOT FALLS FURTHER. Q2 contractual premiums unchanged, spot premiums fall to as low as $… per mton.
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7. ALERT! – EUROPEAN SCRAP. STANDOFF. Secondary smelters and billet remelters in Europe pushing for higher selling prices.
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8. LME Cash–3M contango tightens to one-week lows but remains supportive for new cash-and-carry deals.
