July 6, 2022
US BILLET ALERT.
1. LME price up as technical support prevails within our expected $… per mton zone.
2. US BILLET ALERT. GLOBAL OVERSUPPLY? Brazilian billet exports to the US jump to 11-year highs.
3. EUROPE PFA ALERT. PEAKED? PFA premiums unchanged as demand faces bearish outlook.
4. China’s aluminum prices find some support after reaching thirteen-month lows.
5. LME Cash–3M contango tightens while far end spreads narrow slightly from one-year highs.