Door open for $... per mton to be reached in the next days; European smelters curtailing amid energy and magnesium crisis
1. LME prices climbed by almost $... per mton to new 13-year highs above $... per mton, opening the door for a short-term technical target $... per mton.
2. ALUMINUM PRODUCTION ALERT. ENERGY AND MAGNESIUM CRISIS CONTINUES: More European smelters/remelters are preparing to curtail.
3. SHFE aluminum prices up and testing resistance again near a fifteen-year high.
4. RERUN: ALUMINA PRICE ALERT. PRICE TARGET REACHED AND THEN MORE: Alumina spot price spikes as HARBOR anticipated last year; more gains likely
For more details, please see our “Alumina Price Alert” released last Friday.
5. US MW PREMIUM ALERT. US lawmakers want the DOJ to review the concentration of power and antitrust behavior in aluminum premiums.
6. EUROPEAN ROLLING MILL ALERT. FINALIZED, YET SUSPENDED: EU sets final AD duties on Chinese aluminum coils but delays implementation by nine months.
For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
7. LME October–November contango widens to double digits; backwardations at the far end of the curve intensify.
More details in full report.