LME price still within the $... per mton zone; LME backwardation steepens

January 27, 2022

MEXICO UBC ALERT.

1. LME prices remained hardly changed as monetary tightening concerns intensify; bullishness due to geopolitical risks continues to be seen as temporary.

2. China’s aluminum prices stuck below three-month highs.

3. LME Cash–3M backwardation intensifies amid tighter February–April conditions (bearish for P1020 spot premiums).

4. MEXICO UBC ALERT. KEEPS RISING: UBC prices rally further in Mexico.

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5. MEXICO EXTRUSION SCRAP ALERT. GETTING TIGHTER: Consumers vs RSI producers, fighting for 6063 scrap.

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6. US CLEAN ALUMINUM RADIATOR SCRAP ALERT. RISING PRICES: Clean aluminum radiators scrap move up in price.

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More details in full report.

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