LME prices down to a one-week low, arbitrage to export to China closes
June 2, 2021
NORTH AMERICA PFA ALERT.
1. LME prices fell 1% today as a bearish technical pattern continues to develop.
2. SHFE aluminum prices fall to a one-week low; P1020 exports to China no longer attractive.
3. NORTH AMERICA PFA ALERT. SUPPLY IS KEY: PFA supply hiccups overshadowing chip shortage.
4. EUROPEAN ROLLING MILL ALERT. ROLLING BUSINESS CHANGES NAME AND OWNERSHIP: Hydro’s rolling business becomes Speira. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
5. LME Cash–3M contango hovers around $... per mton as nearby spreads remain loose.
More details in full report.