LME price receives support from bullish oil price; LME contango remains supportive for P1020 premiums; US foundry demand strengthens
1. LME prices increase but fail to reach new highs.
2. LME Cash–3M contango remains premium supportive, February–March tightness easing.
3. NORTH AMERICA PFA ALERT. AUTO DEMAND BOOMS: Solid US auto market further strengthening PFA demand.
4. US A356 WHEEL SCRAP ALERT. US brokers tighten discounts on dirty A356 scrap wheels. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
5. China’s aluminum prices climb back to a three-year high.
More details in full report.