LME price rally reaches $... per mton; US Billet spot premiums surge to new record high
1. LME prices climb to fresh three-year high as metals rally; $... per mton is a short term technical possibility. Levels above $... per mton are still seen unsustainable.
2. SHFE aluminum prices up to new nine-year high.
3. US BILLET ALERT. FRESH RECORD HIGHS: Billet spot premiums rise as high as... cent/lb, as strong demand and supply tightness remains.
4. US UBC ALERT. WIDE AND WIDER: UBC discounts reach all-time record of... cent/lb. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
5. US 6061 TURNINGS SCRAP ALERT. HOT DEMAND: 6061 turnings demand and prices continue to increase. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
6. LME Cash–3M contango widens, but long-term backwardation intensifies further.
More details in full report.