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LME prices down and vulnerable to more selling; European foundry premiums jump to five-year high


1. LME prices give back yesterday’s gains amid profit-taking selling from the highest speculative long position in three years.

2. SHFE aluminum price struggles to remain above multiyear resistance.

3. EUROPE PFA ALERT. FIVE-YEAR HIGH: Spot PFA premiums jump as high as $... per mton.

4. ALUMINUM PRODUCTION UPDATE. World primary aluminum production at a record high in Q1 2021...

5. GREEN ALUMINUM ALERT. Elysis to test inert anode technology at Alma smelter (Quebec).

6. HARBOR FIRST ALERT! NEW BIG PLAYER: ALUBAR purchases Properzi’s rod mill located in New Madrid.

7. US ACR SCRAP ALERT. BULLISH EXPORT DEMAND: ACRs trading above $... per lb. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

8. WORLD CAN ALERT. PEDAL TO THE METAL: Crown 15 billion beverage can expansions on track. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

9. LME canceled warrants spike again in Malaysia, further supporting already lengthy load-out queues (premium supportive).

10. LME Cash–3M contango narrows further as May backwardation continues to intensify.

More details in full report.