LME prices continue to find selling at $... per mton; Bull trend continues for P1020 and Billet spot premiums
1. LME prices down but still inside HARBOR’s $... per mton resistance target zone.
2. US MW PREMIUM ALERT TWO-MONTH HIGHS: MW premium gaps up to 30.95–32.00 cent/lb.
3. US BILLET ALERT. NEW RECORDS: US spot billet upcharge jumps to a record high of... cent/lb.
4. US UBC UPDATE. Competition for UBC units heats up.
Demand for prompt material is increasing; US traders are pushing hard for units in the Mexican market; Mexican consumers are now fighting back. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
5. EUROPEAN P1020 ALERT. BULL TREND CONTINUES: Europe P1020 premiums reach fresh six-year highs.
6. EUROPEAN BILLET ALERT. SPOT AND FORWARD CURVE CONVERGING: European spot billet premiums jump toward Q2 contractual level.
To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
7. China’s aluminum prices fall from eleven-week highs amid profit-taking selling.
8. LME Cash–3M contango widens to one-week highs amid easing March conditions (still unsupportive for P1020 spot premiums).
More details in full report.