LME price rally reaches $... per mton; European billet and MW spot premium up again

May 6, 2021

1. LME prices rally the most in two weeks; door remains open for quick visit to $... per mton zone.

2. SHFE aluminum prices extend last week’s rally to new thirteen-year highs.

3. US MW PREMIUM ALERT. FRESH NEW RECORD HIGHS: MW P1020 up at... cent/lb, discounting re-emerges.

4. EUROPEAN BILLET UPDATE. SPOT PREMIUM RANGE UP: European spot billet consolidates above $... per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

5. MEXICO SECONDARY ALERT. FALLING SECONDARY DEMAND: Mexican Casters slash demand by... %. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

6. GREEN ALUMINUM ALERT: GREENER MEANS MORE SCRAP: Mytilineos expands recycled aluminum production, while aiming for lower and greener energy consumption.

7. LME spread tightness persists at both front and far ends of the curve (still short-term bullish for P1020 premiums).

More details in full report.

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