LME prices plummet back below key resistance level; MW premium financials above... cent/lb
1. LME PRICE ALERT. CHINA NOT HAPPY WITH HIGH PRICES: LME prices fall on rumors China will release stockpiles.
2. LME prices down from 33-month highs, continue to trade within our expected $... per mton resistance zone.
3. China's aluminum prices plunge and test one-month low below... yuan per mton.
4. SURPASSING... CENT/LB: CME MW premium financials spike to new two-year highs.
5. LME Cash–3M contango remains supportive of cash-and-carry deals amid loose conditions ahead of May.
6. EUROPE GREEN PFA ALERT. FURTHER ADOPTION: Ronal Groupand Alcoa sign Green PFA contract.
7. EUROPE WIRE ROD UPDATE. BULLISH SETUP: EC rod premiums set to rally amid production declines and strong demand.
More details in full report.