LME prices post weekly loss; European Billet premiums reach $1,050 per mton; Looming EU Carbon Border Tax
1. LME prices bounced back on Friday but still ended the week down... %; short-term bearish bias continues to be seen.
2. SHFE aluminum prices rebound after testing support near... yuan per mton.
3. EUROPEAN BILLET UPDATE. NEW RECORD HIGHS: European spot billet premiums reach $... per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
4. EUROPEAN ROLLING MILL ALERT. A CHALLENGING SUMMER: European cansheet and can suppliers are basically maxed out…and summer has just started. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
5. EUROPEAN SCRAP MARKET. FALLING: Secondary spot prices down, Q3 contract deals delayed. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Repor
6. GREEN ALUMINUM MONITOR: Green Initiatives Include Taxing None-Green Aluminum Imports.
For more details, please see our “Green Aluminum Monitor” released earlier today.
7. REURN: GREEN ALUMINUM ALERT. EUROPEAN CARBON BORDER TAX: Aluminum exported to Europe could be subject to a carbon-tax by 2023.
8. US 6063 EXTRUSION SCRAP ALERT. DEMAND STILL ON FOR 6063 SCRAP: Steady discounts and demand for bare 6063 scrap. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
9. MEXICO SCRAP ALERT. FALLING DOWN: Mexican Secondary ingot demand and scrap prices fall further. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
10. LME Cash–3M contango becomes uneconomic as backwardation emerges in June–July spread.
More details in full report.