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Real LME prices fall to...-year lows amid worst demand contraction since 2009; European P1020 premium plunges

EUROPEAN P1020 ALERT.

Executive Summary

1. LME PRICE ANALYSIS. Adjusted for inflation, prices reached today a... -year low amid the worst Western World manufacturing contraction since 2009.

2. SPECIAL ANALYSIS. Western World aluminum demand contract the most since...

3. LME longer-term contangos widen to a seven-month high amid apparent consumer hedging activity. Cash–3M contango yield at its widest in eighteen months.

4. EUROPEAN P1020 ALERT. European duty-paid P1020 premium plunges as orphaned remelt production spikes. Duty unpaid set to fall toward $... per mton.

5. EUROPEAN BILLET UPDATE. April's billet orders collapse in Southern Europe; extruders inquire for longer payment terms.

6. MEXICO SECONDARY ALERT. Collapse of Mexico's secondary and die casting market activity as shutdowns mount.

7. China’s aluminum prices fall but manage to hold near current support threshold.

More details in full report.