LME prices up despite record inventory spike but below key resistance
March 11, 2021
US BILLET ALERT.
1. LME prices rise but remain unable to retest $... per mton.
2. LME INVENTORY ALERT. BUILDUP IS NOT BEARISH: Record spike in LME inventories after backwardation.
3. US BILLET ALERT. NEW ALL-TIME HIGHS (AGAIN): Billet spot premiums jump to... c/lb.
4. LME Cash–3M contango at the widest spread in five months as nearby tightness eases.
5. EUROPEAN ROLLING MILL ALERT. FRP TIGHTNESS HERE TO STAY: European supply not keeping up with demand. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
6. China's aluminum prices bounce back toward a nine-year high.
More details in full report.