Door open for revisit of $3,000 per mton; MW premium up before year end

December 23, 2021

LME PRICE ALERT.

1. LME PRICE ALERT. Door open for a short-term revisit of $... per mton. As anticipated, move up is part of an ongoing technical top formation.

2. US MW PREMIUM ALERT - From HARBOR’s Aluminum Pricing Unit. BULLISH BEFORE YEAR-END: MW premium gaps up t... cent/lb.

3. ALUMINUM PRODUCTION ALERT. ANOTHER NEW SMELTER IN INDONESIA: PT Adaro Energy to build new green smelter in Indonesia.

4. EUROPE WIRE ROD UPDATE. GREEN ADOPTION: Demand for green wire rod units spikes, so does the green upcharge for 2022.

5. RERUN. GREEN SLAB ALERT. GREEN SLAB UPCHARGE RISES: European Green Slab Upcharge as high as $... per mton.

6. EUROPEAN BILLET ALERT. BILLET PLATEAU CONTINUES: Spot premiums unchanged at record levels for fifth-consecutive week.

7. China’s aluminum prices sustain gains above $... per mton.

8. LME Cash‑3M contango turns unprofitable for cash-and-carry deals amid steep backwardation after March.

More details in full report.

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