LME and SHFE prices plunge further; LME contango widens
March 8, 2022
ALERT! - RUSSIAN ALUMINUM.
1. LME PRICE UPDATE. LME 3M aluminum price has now collapsed to as low as $... per mton, down as much as $.. per mton since Monday’s peak and easing month-to-date gains.
2. ALERT! - RUSSIAN ALUMINUM. Russia to introduce export restrictions, not clear yet if aluminum will be included.
3. US BILLET ALERT. MISLEADING? US billet premium range tightens to... cent/lb, but the risk of a spike increases.
4. LME Cash–3M contango widens sharply, becomes supportive for P1020 premiums.
5. CHINA ALUMINUM ALERT. China considering investments in Russian commodities sector.
6. China’s aluminum prices extend yesterday’s sell-off.