LME price rallies… % as energy prices spike; LME Cash–3M contango narrows to a two-week low of $… per mton

1. LME price resumes rally as oil prices spike again amid European energy crisis and near all-time-high fear/volatility levels in the aluminum market.

2. LME Cash–3M contango narrows to $7 per mton amid tighter conditions after April—bearish for P1020 spot premiums.

3. China’s aluminum prices bounce back to a two-week high.

4. GREEN ALUMINUM MONITOR: More companies see aluminum scrap as the input of choice.