1. LME price plunges and reverses yesterday’s rally after disappointing economic stimulus news out of China. Cyclical resistance zone of $2,700-2,750 per mton holds firmly in place.
LME Cash aluminum prices plunged by 2.9% or $78 per mton today, closing the session at $…
2. China’s aluminum prices trimmed gains as Chinese stimulus fell short of market expectations.
SHFE front-month aluminum prices closed today’s session up by 1.6% at…
3. SPECIAL ALERT! – CHINA ALUMINUM. NO BAZOOKA: China’s stimulus set to continue to disappoint, bearish LME.
China once again underdelivers on much-anticipated economic stimulus announced today, lacking…
4. ALERT! – EUROPE P1020. TRUMP’S BEARISH THREAT TO PREMIUMS: Europe P1020 premiums unchanged for now.
European P1020 premiums still trading sideways…
5. ALERT! – EUROPEAN BILLET. DEMAND WEAKNESS & TRUMP: EU demand and premium outlook more bearish with Trump.
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6. ALERT! – EUROPE SCRAP PROCESSING. WHEN THE PRICE IS RIGHT: Sorting of 3xxx and 5xxx series increase on wide scrap spreads.
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7. LME Cash–3M contango widens to $36 per mton, still uneconomic for cash-&-carry deals (bearish spot premiums).
The Cash-3M contango closed the week widening to $…