LME price down 3% w/w as technical pullback continues; European billet spot premiums showing a mixed behavior

1. LME prices hardly changed on Friday as retracement from all-time highs continues; door is open for $... per mton amid deteriorated price technical outlook, demand destruction trend, interest rate hikes, and the absence of official sanctions on Russian aluminum.

2. China’s aluminum prices extend short-term rebound, testing a two-week high.

3. LME Cash–3M contango widens again amid looser conditions ahead of May.

4. EUROPEAN BILLET ALERT. UP AND DOWN: Spot billet premiums jump further in UK, but weaken in Turkey.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

5. EUROPEAN SCRAP ALERT. MORE DEMAND FOR CUTTER GRADES: Appetite for bare 6063 scrap, cable and litho scrap increases as P1020 premiums jump

To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

6. MEXICO ALUMINUM SCRAP ALERT. GRADUALLY SOFTENING: UBC and extrusion scrap spot prices are now falling.

For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.