LME price up after severe downward correction; Aluminum not included in export bans from Russia

March 10, 2022

ALERT! – RUSSIAN ALUMINUM.

1. LME price rebounds... % after unprecedented... % plunge, with technical support at $... per mton likely to be further tested. Russia not planning to restrict aluminum exports, while the latest UK sanctions do not impact aluminum exports from the country.

2. LME Cash–3M contango remains in double digits, supportive for P1020 premiums.

3. ALERT! – RUSSIAN ALUMINUM. Aluminum not included in Russia’s commodity export ban on other countries.

4. Rio Tinto and Arconic join Hydro and Alcoa in cutting ties with Russia.

5. ALERT! – CHINA SMELTING RESTARTS. ACCELERATING RESTARTS:... million mtpy of Chinese smelting capacity hitting the market.

6. China’s aluminum prices rebound after testing a near-six-week low

7. US 6016/6022 SCRAP ALERT. WIDER SPREADS: US buyers widening discounts for spot 6016/6022 scrap.

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