Unprecedented LME price volatility continues while Chinese aluminum exports boom on wide open arbitrage; Global premiums set to skyrocket again if legislation is passed

1. LME prices spike and then collapse from a fresh all-time high $... per mton.

2. LME Cash–3M spread returns to contango for the first time in seven weeks, but tightness persists in long-term spreads.

3. China’s aluminum prices plunge after rallying to a four-month high, and trade way below LME price levels.

4. CHINA EXPORTS ALERT. China’s aluminum exports spike as expected, reaching... million mton in the first two months of 2022—the highest ever for the Jan-Feb period. Exports of aluminum primary, semis and finished products set to boom further amid wide open arbitrage.

5. ALERT! – ALUMINUM PRODUCT PREMIUMS. BULLISH PREMIUMS RISK: US Congress moving toward hiking tariffs on Russia, could push premiums higher by as much as $... per mton.

6. EUROPE WIRE ROD ALERT. EGEOPOLITICAL SHOCK: EC rod premiums jump to as high as... euros per mton.