LME price approaches $... and European P1020 premiums surge, door open for more daily sharp increases

1. LME 3M prices reached fresh all-time highs at $... per mton amid ongoing fears of logistics disruptions, soaring energy prices and strong speculative appetite for commodities.

2. China’s aluminum prices test a four-month high.

3. EUROPEAN P1020 ALERT. WAR SHOCK: European P1020 premiums jump, considerable upside seen ahead.

4. EUROPE CAN ALERT. WAR SHOCK: Common alloy sheet/coil conversion prices may increase another... % on current LME and MW levels.

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5. LME Cash–3M backwardation eases sharply as tightness ahead of March recedes; LME warrant cancelations spike by the most in eight months.

More details in full report.