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LME price down in weekly terms; European P1020 spot premiums edge higher; Another inflationary booster for PFA and Slab premium upcharges


1. LME prices down 4% from the $3,000 per mton high reached on Monday.

2. SHFE aluminum prices stall ahead of long-weekend in China.

3. PFA ALERT. ANOTHER INFLATIONARY BOOSTER: Silicon spike to add upward pressure on PFA upcharges.

4. RERUN: SLAB ALERT. MAGNESIUM TO FURTHER BOOST 5xxx SLAB UPCHARGES: Magnesium prices have tripled, supply constraints to worsen and boost 5xxx slab upcharges.

5. EUROPEAN P1020 UPDATE. HIGHER AGAIN: Europe P1020 premiums edge slightly higher to new six-year highs.

6. EUROPEAN BILLET UPDATE. ABOVE $... PER MTON: European Q1 billet contracts closed as high as $... per mton.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

7. EUROPEAN SCRAP MARKET. TWO TALES: Export market leads, domestic activity lags.

Higher Asian secondary ingot and scrap prices is supporting Europe’s domestic prices. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

8. GREEN ALUMINUM MONITOR: Rolling mills aim for 95% scrap content in the slabs.

For more details, please see our “Green Aluminum Monitor” released earlier today.

9. US UBC ALERT. ITS “GREEN GOLD”: UBC discounts widen to... cent/lb below MWTP; this is a new profitability record.

All-time UBC discounts have further boosted scrap intake profitability. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

10. LME Cash–3M contango narrows further amid backwardation after November.

More details in full report.