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LME price unable to sustain rallies, contango widens further; European P1020 and Billet premiums spike

EUROPEAN BILLET UPDATE.

1. LME prices fail to break away from resistance zone.

2. China's aluminum prices continue to see profit taking, retreat from nine-year highs.

3. EUROPEAN P1020 ALERT. UP & APPROACHING $... PER MTON: Rotterdam P1020 ddp rises to $... per mton.

4. EUROPEAN BILLET UPDATE. TOWARDS $ PER MTON: Spot premiums spike to $ per mton; Q3 offers at $... per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

5. MEXICO ALUMINUM ALERT. $2 BILLION TRADE SURPLUS: US has a massive aluminum trade surplus with Mexico, Mexican Aluminum Institute says.

6. US UBC SCRAP ALERT. DISCOUNT BONANZA: UBC discounts at... cent/lb again. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

7. LME Cash–3M contango widens to $... per mton amid loose conditions ahead of June (supportive for cash-and-carry deals).

More details in full report.