LME price approaches $... ; Alumina price spikes; European billet production under threat
1. LME price rallies to key resistance zone of $... per mton.
2. ALUMINA PRICE ALERT. PRICE TARGET REACHED & THEN MORE: Alumina spot price spikes as HARBOR anticipated last year, more gains likely.
3. ALUMINUM PRODUCTION ALERT. ENERGY CRISIS HITS SMELTERS: European smelting operations may be forced to shut down.
4. EUROPEAN BILLET ALERT. FIRST BILLET PRODUCTION CUTBACK CONFIRMED: Aldel to reduce billet production amid energy crisis, bullish billet premiums.
5. EUROPEAN BILLET UPDATE. ANOTHER BLACK SWAN? European billet production could decline... kmtpy amid energy crisis at a time when supply is already short. Q1 contracts up to $... per mton.
6. EUROPEAN SCRAP MARKET. SILICON AND MAGNESIUM CRISIS HITS SCRAP: Scrap and secondary prices rise across the board.
7. US BILLET ALERT. MAGNESIUM AND SILICON CRISIS HITS US BILLET: Crisis has increased billet casting cost by as much as... cent/lb in just four months.
For more details, please see our “US Billet Alert” released yesterday.
8. CHINA SCRAP ALERT. MORE RECYCLING IN CHINA: Henan recycled aluminum to expand to... million mtpy.
9. GREEN ALUMINUM MONITOR: Low-carbon logistics among decarbonization efforts.
For more details, please see our “Green Aluminum Monitor” released earlier today.
10. SHFE aluminum prices resume trading with upward momentum.
11. CME MW premium curve remains in backwardation through 2022.
12. LME Cash–3M contango widens amid looser conditions after October, but severe tightness prevails for 2022.
More details in full report.