LME price hovers around four-week lows; European PFA spot premiums jump to as high as $... per mton
1. LME prices range-trade near four-week lows after yesterday’s plunge; door could open soon for $... per mton.
2. ALERT! – ALUMINUM PRODUCTION. NEW MEGA SMELTER:... million mtpy smelter in Indonesia accelerates construction amid record smelting profitability.
3. China’s aluminum prices rebound from a three-month low; medium-term technical support holds.
4. EUROPE PFA ALERT. RECORD HIGHS: Spot PFA premiums jump to as high as $... per mton.
5. US MW PREMIUM ALERT. Duties on Russia now in place—bullish for premiums. US product upcharges (more so) and MW P1020 premiums (less so) could spike further as the US imposes duties on Russian aluminum.
6. LME Cash–3M contango at the widest in four weeks; fears of unsustainable premium levels discouraging cash-and-carry deals.