LME prices reach as high as $... per mton and European premium advance further ahead of Russia export tax implementation

1. LME prices reached as high as $... per mton; closing the month up... % m/m with higher levels still likely in the short term.

2. SHFE aluminum prices up and testing levels around... yuan per mton.

3. EUROPEAN P1020 ALERT. FRESH SIX-YEAR HIGHS: Rotterdam premiums continue with their nonstop rise; offers as high as $... per mton.

4. EUROPE WIRE ROD UPDATE. STRONGER AND GREENER: European EC rod demand remains strong; interest in green aluminum cable grows.

5. EUROPEAN BILLET UPDATE. CONSOLIDATING AT RECORD HIGHS: Sellers’ market conditions linger as Russia export tax is set to begin next week.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

6. EUROPEAN SCRAP MARKET. BULLISH UNCERTAINTY: Secondary prices up amid Russian export tax and Asian demand.

To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

7. MEXICO SCRAP ALERT. SECONDARY DEMAND CONTINUES TO FALL: More casters in Mexico slashing orders for August–September.

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8. LME Cash–3M backwardation remains steep but eases from yesterday's twenty-month peak.

More details in full report.