LME price still inside key resistance zone; LME Cash–3M backwardation reaches $... per mton (unsupportive of P1020 premiums)

February 17, 2022

EUROPE PFA ALERT.

1. LME prices marginally up and inside key $... per mton resistance range.

2. LME Cash–3M backwardation reaches $... per mton; severe tightness remains concentrated in February–March segment.

3. China’s aluminum prices still testing resistance zone.

4. ALERT! – CHINA SMELTING RESTARTS. RESTARTS ACCELERATE: China smelting expansions and restarts gain momentum.

5. EUROPE PFA ALERT. RISING: Spot PFA premiums continue to rally on H2 2022 auto demand optimism.

6. NORTH AMERICA SCRAP TRADE UPDATE. India buying in North America.

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7. US ACR SCRAP ALERT. HOLDING UP: ACR demand and prices remain strong.

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8. US 6063 SCRAPALERT. HOT ITEM: Extrusion scrap demand and prices continue to increase.

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9. MEXICO SECONDARY ALERT. WIDER DISCOUNTS: Transactional A380 prices in Mexico trading 10 cent/lb below journalistic references.

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