LME range trading continues; European P1020 premiums at a new six-year high
1. LME prices fall after reaching short-term resistance above $... per mton, technical top formation continues to gradually develop.
2. ALUBAR purchases Victoriaville’s wire rod plant.
3. SHFE aluminum prices rise to a three-week high ahead of Chinese holiday.
4. EUROPEAN P1020 ALERT. FRESH SIX-YEAR HIGH S: Rotterdam premiums up further; mating season starts earlier.
5. EUROPE PFA ALERT. STABILIZING: PFA demand stabilizing near pre-covid levels; Shipment delays favoring spot market appetite.
6. EUROPEAN SCRAP MARKET. GETTING READY FOR THE SUMMER BREAK: Demand and price inch higher but outlook remains uncertain. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report
7. GREEN ALUMINUM MONITOR: Recycling, Recycling, Recycling.
For more details, please see our “Green Aluminum Monitor” released earlier today.
8. LME Cash-3M backwardation eases as June-July tightness recedes amid inventory build ups in Asia.
More details in full report.