LME prices could face selling in next sessions; Europe's EC rod premium widens; Mex UBC prices jump
1. LME prices vulnerable next week to profit taking and producer selling.
2. EUROPE WIRE ROD UPDATE. EC rod 2021 contract premiums widen to... euros per mton.
3. EUROPEAN SCRAP MARKET. BULL MARKET CONTINUES: Extrusion scrap and secondary ingot prices up again. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
4. MEXICO UBC ALERT. UBC TIGHTNESS IN MEXICO: Suppliers filling past orders at a loss. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
5. US PAINTED SIDING SCRAP ALERT. Painted siding scrap prices jump to as high as... cent/lb. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
6. LME spread tightness persists as Cash–3M remains roughly break-even, while longer-term contangos narrowed again.
7. China’s aluminum prices continue to test fresh three-year highs.
More details in full report.