LME falls further while SHFE prices reach a two-week low; European premiums run out of steam

1. LME prices lost further ground after the expected confirmation of no sanctions or restrictions on Russia’s aluminum and energy exports.

2. China’s aluminum prices test a two-week low amid downward pressure on raw materials.

3. ALERT! LME & CHINA ALUMINUM. BEARISH COAL: China’s coal prices set to resume declines on government's plan—bearish for aluminum prices.

4. EUROPEAN P1020 ALERT. OUT OF STEAM: European P1020 premiums unchanged for a second-consecutive week amid no sanctions on Russian aluminum.

5. EUROPEAN BILLET ALERT. SECOND DROP: European spot billet premiums weaken for second straight week.

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

6. EUROPEAN SCRAP ALERT. UNCERTAINTY REIGNS: Secondary and scrap markets in a wait-and-see stance.

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7. MEXICO SCRAP ALERT. OUTFLOWS TO THE US: US prices for UBCs, 6063, and 6061 rally way above Mexico’s domestic prices.

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8. LME Cash–3M backwardation eases to a one-week low; severe tightness persists (bearish for P1020 premiums).

More details in full report.