March 29, 2022
EUROPE PFA ALERT.
1. LME prices fell the most in three weeks to as low as $… per mton amid heavy speculative selling triggered by hopes of a geopolitical crisis de-escalation. Key interim support for LME prices seen at around $… per mton.
2. LME Cash–3M contango narrows slightly; long-term backwardation eases to smallest in three-months.
3. China’s aluminum prices retreat toward two-week lows.
4. EUROPE PFA ALERT. LINGERING LIMBO: Spot PFA premiums unchanged as market seeks direction.
5. US UBC ALERT. UBC discounts are the tightest in a year.
For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.