LME prices fail again to break $2,270 per mton; European P1020 premium up to a three-year high

April 9, 2021

EUROPEAN P1020 ALERT.

1. $... per mton trading resistance zone remains on as LME prices fail again to confirm breakout (third failed attempt in three weeks).

2. EUROPEAN P1020 ALERT. BULLISH RUN CONTINUES: European P1020 premiums rally to new highs.

3. EUROPEAN SCRAP MARKET. FALLING SECONDARY PRICES: D226 prices softening across the board. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

4. US TWITCH ALERT. NEW TEXAS TWITCH PLANT: Levitated Metalsbegins operations in Houston. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

5. LME Cash–3M contango widens from tightest in one month (supportive of cash-and-carry deals).

6. SHFE aluminum prices unable to break above short-term interim resistance.

More details in full report.

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