Sharpest weekly LME sell-off in a year; European P1020 and Billet premiums bull run still on

1. LME PRICE ALERT. WEEKLY PLUNGE: As anticipated by HARBOR, LME prices plunge 10% or $... per mton in less than two weeks.

2. SHFE aluminum prices plunge this week by the most in four months.

3. EUROPEAN P1020 ALERT. BULL RUN STILL ON: European duty-paid P1020 premium rises to $... per mton.

4. EUROPEAN BILLET UPDATE. CAUTIOUS OPTIMISM: European spot billet premiums rise to $... per mton. More Q4 contracts signed early. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

5. EUROPEAN ROLLING MILL ALERT. MAXED OUT: Most European mills are sold out for H2, conversion prices continue to increase. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

6. EUROPEAN SCRAP MARKET. SELL, SELL: Increased primary scrap supply to hit the spot market amid falling LME. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

7. MEXICO SECONDARY ALERT. DEMAND PLUNGES: Appetite for prompt secondary scrap plummets. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

8. LME Cash–3M contango remains attractive for new cash-and-carry deals (supportive for P1020 premiums).

More details in full report.