LME price close week up 2%; Bullish trend continues for European P1020 and Billet spot premiums
1. LME prices bounce back in weekly terms, technical support holds.
2. EUROPEAN P1020 ALERT. BULLISH TREND CONTINUES: European P1020 premiums rise further despite backwardation.
3. EUROPEAN BILLET UPDATE. BULLISH PRESSURE RESUMES: Strong market appetite intact, premium rally continues. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
4. EUROPEAN SCRAP MARKET. EXPORT MARKET SOFTENS: Demand from Asia easing ahead of Chinese holiday. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
5. US ALUMINUM COPPER RADIATOR (ACR) SCRAP ALERT. BIG JUMP: US secondaries aggressively competing for ACR spot units. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
6. MEXICO UBC ALERT. MEXICO UBC PRICES FALL: Spot availability increases. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
7. US PFA ALERT. DEMAND STRONG AND STABLE: Not much spot market activity seen yet.
8. LME Cash–3M backwardation emerges as January shorts get squeezed (bearish premiums around the world).
9. China’s aluminum prices range trade near technical support.
More details in full report.