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

BRAZIL ALUMINUM ALERT.

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.

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

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

More details in full report.