LME price rallies 3% in week; European billet market cools down; Nearby LME contango at a one-week high
1. LME aluminum price sustains nineteen-month highs; price action remains consistent with our forecasted target of $... per mton before the end of Q1 2021.
2. EUROPEAN BILLET UPDATE. Spot market cools down, premiums unchanged for the first time in almost two months; Q1 closes earlier than usual. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
3. EUROPEAN SCRAP MARKET. European scrap units may flow to North America. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
4. NORTH AMERICA ROLLING MILL ALERT. Mexico to impose antidumping duty on Chinese aluminum circles. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
5. US OLD SHEET SCRAP ALERT. Domestic supply of old sheet units continues to be limited. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
6. LME Cash–3M contango settles at a one-week high as conditions around November–January ease for a fourth-consecutive session.
7. China’s aluminum prices consolidate week’s rally and hold near post pandemic highs.
More details in full report.