February 21, 2022
GREEN ALUMINUM ALERT.
1. LME prices still trading inside $… per mton range.
2. LME Cash–3M backwardation intensifies again toward three-year highs (bearish for P1020 premiums).
3. China’s aluminum prices continue to range trade around resistance zone.
4. GREEN ALUMINUM ALERT. MORE SUPER GREEN SLAB COMING: Novelis announces 100k mtpy Super-Green slab project in South Korea.
5. EUROPEAN ROLLING & RECYCLING ALERT. RECYCLING INTEGRATION: Speira announces acquisition of Real Alloy Europe.
6. ALERT! CHINA ALUMINUM PRODUCTION. MORE COAL MINES COMING: China approves new coal mine projects.
7. ALERT! DISRUPTED ALUMINUM PRODUCTION. Hydro’s Albras forced to curtail 110k mtpy. Restart to begin in Q2 2022.
More details in full report.