LME prices up as technical support holds; European and Brazilian P1020 premiums firm up
1. LME prices increased today, as interim support around $... per mton prevailed and market fear levels retraced back to normal levels.
2. EUROPEAN P1020 ALERT. Spot premiums firm up at the low end of the range, supported by attractive contangos and a lower availability of prompt P1020 units.
3. BRAZIL P1020 ALERT. CIF P1020 premiums jump as much as $... per mton as tariff-free import quota has been completed.
4. LME September–November contango widens further; wide Cash-3M contango supportive for P1020 premiums around the globe.
5. US UBC ALERT. Almexa seen increasing its purchases of Mexican UBCs. For more details, please subscribe to our specialized US & Mexico Weekly Scrap Report.
6. US SECONDARY ALERT. US spot A319 prices jump to... cent/lb. For more details, please subscribe to our specialized US & Mexico Weekly Scrap Report.
7. HARBOR’s Green Aluminum Upcharge assessed at zero.
8. China’s aluminum prices stuck in a narrow range, just below a recent one-week high.
More details in full report.