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LME prices knocking on the $2,700-$2,800 per mton door; European secondary prices decline 20% in a month


1. LME prices up to a one-week high, attempting to re-enter the $2,700–$2,800 per mton zone.

2. China’s aluminum prices struggling to regain short-term upward momentum.

3. BRAZIL ALUMINUM ALERT. DEPRESSED MARKET: Brazil’s P1020 and billet premiums unchanged as the market remains weak.

4. EUROPEAN SCRAP MARKET. PRICE CORRECTION: Secondary prices decline 20% in a month.

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5. LME Cash–3M backwardation continues as conditions still bearish for P1020 spot premiums.

More details in full report.