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LME price slightly down after testing resistance, Europe and Brazil see P1020 premiums at fresh highs


1. LME prices reach intraday high of $.. per mton but closes down.

2. SHFE aluminum prices still above multiyear resistance but still unable to retest nine-year high.

3. EUROPEAN P1020 ALERT. FRESH THREE YEAR HIGHS: South Europe P1020 premiums reach $... per mton.

4. RERUN: BRAZIL ALUMINUM ALERT. BRAZIL CATCHES UP WITH THE WORLD: Brazil’s P1020 at fresh highs, billet premiums gap up.

5. RERUN: US MW APEX ACT ALERT. APEX ACT REINTRODUCED: Act seeks to investigate antitrust behavior in the MW premium.

6. LME Cash–3M backwardation eases slightly, but tightness ahead of May remains steep.

More details in full report.