LME price plunges the most in fifteen years; Growing signs of inflection point also in European spot premiums

1. LME PRICE ALERT. Biggest LME weekly plunge in 15 years; $... would be next target if $... support falls.

2. SHFE aluminum prices plunge... % w/w to a two-month low.

3. EUROPEAN P1020 UPDATE. DISCOUNTS WIDEN: European P1020 premiums weaken further amid growing bearish factors.

4. EUROPEAN BILLET UPDATE. More signs of a potential inflection point.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

5. EUROPEAN SCRAP MARKET. DEMAND DESTRUCTION: Prices keep rising, but activity and 2022 negotiations are drying up.

To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

6. US WIRE ROD ALERT. LESS OFFSHORE SUPPLY AHEAD: Spike in next year’s ocean container costs to further impair offshore EC rod supply competition in the US.

7. MEXICO SECONDARY ALERT. PRICE REVERSION: Silicon prices plunge 30%, secondary ingot activity stalled.

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8. LME nearby contango widens.