LME prices close the week higher; European billet premiums rise further; Alcoa halts curtailment plan
1. LME 3M prices close the week up at $... per mton.
2. SPAIN ALUMINUM ALERT. SHUTDOWN PLANS HALTED: Alcoa halts curtailment decision of San Ciprian smelter.
3. EUROPEAN BILLET UPDATE. EVEN HIGHER: European spot and Q2 premiums approaching $... per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
4. EUROPEAN SCRAP MARKET. BULLISH PRESSURE INTENSIFIES: Extrusion scrap prices up on domestic demand; secondary and ingot pressured by Asia. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
5. US 7075 SCRAP ALERT. RISING DEMAND, NOW FOR AEROSPACE SCRAP: US brokers hungry for prompt delivery units. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
6. CANADA ALUMINUM ALERT. RIO TINTO EXPANDS REMELT: More scrap processing in Laterrière (Canada).
7. LME longer-term contangos tighten furthet amid forward selling; Cash–3M contango tightens too.
8. Chinese aluminum prices heased toward... yuan per mton.
More details in full report.