LME prices range-trade above $... per mton; European billet premiums bullish run continues; Brazil’s P1020 premiums lag
1. LME prices underperform amid lower oil prices but remain supported above $... per mton.
2. SHFE aluminum prices up to new two-month highs; arbitrage window to export P1020 to China could reopen.
3. EUROPEAN BILLET UPDATE. BULLISH RUN ON: Q1 2022 back-to-back billet contracts signed as high as $... per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
4. EUROPEAN CANSHEET ALERT. EUROPEAN CAN CAPACITY EXPANDS FURTHER: Ball set to increase can capacity in UK and Russia amid booming demand. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
5. US & EUROPEAN ROLLING MILL ALERT. SUPPLY TIGHTENS FURTHER: Hulamin suspends rolling mill operations amid social unrest. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
6. BRAZIL ALUMINUM ALERT. LAGGING BEHIND: Trailing Brazil’s P1020 premiums levels may incentivize more exports ahead.
7. LME nearby spreads remain relatively wide but tightness persists after September.
More details in full report.