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LME prices down 3% w/w; US and European common alloy conversion prices spike

US ROLLING MILL ALERT.

1. LME prices up on Friday but close the week far below Monday’s high of $... per mton; a failure to bounce back next week could open the door for a $... per mton downside target before the end of this month.

2. SHFE aluminum prices test a two-week low and remain unable to consolidate latest gains.

3. RERUN: US-MEXICO SLAB ALERT. START OF A NEW ERA: Record offshore slab imports is just the start.

4. US ROLLING MILL ALERT. PRICE SPIKE: US common alloy conversion prices for 2022 spike to as high as $... per lb. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

5. EUROPEAN ROLLING MILL ALERT. 5xxx PRICE ESCALATION CONTINUES: European sheet/coil spot conversion prices spike by... euro per mton. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

6. US UBC ALERT. RECORD MILL PROFITABILITY: UBC discounts reach.. cent/lb. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

7. EUROPEAN SCRAP MARKET. THE BULL COMES BACK: Secondary prices pushed up as export arbitrage kick in. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

8. GREEN ALUMINUM MONITOR: More recycling and energy efficiency projects announced. For more details, see our “Green Aluminum Monitor” released earlier today.

9. LME Cash–3M contango widens to six-week high (supportive for P1020 premiums).

More details in full report.