LME prices fall to low end of trading range; All US and some Canadian smelters unviable at the current prices
May 15, 2020
US MW PREMIUM SPECIAL ANALYSIS.
Executive Summary
1. LME prices bottoming-out pattern could be confirmed next week.
2. LME inventory buildups accelerate in Asia; additional deliveries likely next week.
3. US MW PREMIUM SPECIAL ANALYSIS. All US smelters and two in Canada are unviable at the current prices.
4. NORTH AMERICA PFA ALERT. Number of PFA tee suppliers in the North American market has doubled from 3 to 6 over the last three years. Some US auto restarts have been impacted by Mexico’s delays.
5. China’s aluminum prices climb back to a two-month high.
More details in full report.