1. LME price continues to approach the lower end of the prevailing short-term trading range of $2,500-2,750 per mton
LME Cash aluminum prices closed at a two-week low of $… per mton, falling by 0.4% or $11 per mton from Friday. Aluminum prices fell along with the base metals complex due to…
2. China’s aluminum price trades near two-month lows as semis exports rebate removal takes effect.
Prices continue testing technical support levels. SHFE front-month aluminum prices closed today’s session up by 0.2%, at… yuan per mton, unable to significantly rebound from last week’s two-month low. Prices found some support from…
3. ALERT! – EUROPEAN PFA. GAP DOWN: EU spot PFA premiums plummet to as low as $… per mton.
Full regional spot PFA premiums decline to lowest level in six months as auto demand and outlook continue to deteriorate.
4. ALERT! – EUROPEAN BILLET. PREMIUM DECLINE CONTINUES: EU billet premiums decline to as low as $… per mton.
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5. ALERT! – MEXICP SCRAP. PRICE UP DESPITE WEAK DEMAND: UBC and 6063 scrap prices move up despite slower activity.
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6. The LME Cash–3M contango widens from one-month lows, remains uneconomic for financing deals (bearish P1020 premiums).
The Cash-3M contango widened sharply to $… per mton (a 3.8% annualized yield) from Friday’s seven-week low contango of $… per mton as conditions eased through February.