1. LME prices tested fresh… -month intraday high but again retraced below the $…per mton resistance level.
2. SHFE aluminum prices rise and continue to trade near ten-year highs.
3. US SLAB ALERT. TIGHTNESS BITES: US slab 5xxx spot upcharge spikes on lack of scrap.
4. EUROPEAN BILLET UPDATE. ABOUT TO PEAK? European billet bull run seems to be losing momentum. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
5. EUROPEAN SCRAP MARKET. SCRAP SHORTAGE BITES: Basically all aluminum scrap items are in short supply. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
6. MEXICO SECONDARY ALERT. MORE TWITCH AVAILABLE: Mexican consumers receiving unsolicited offers from US sellers. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
7. CHINA ALUMINUM ALERT: NO PRODUCTION CURBS IN CHINA: China to further monitor aluminum industry, capacity expansions, but will not curb production for now.
8. LME nearby backwardation eases slightly, but tightness at the far end of the curve intensifies.
More details in full report.