LME rallies but still stuck in resistance zone; MW Premium spikes to... cent/lb
1. LME prices end week at fresh 33-month high, reaching the upper end of our the $... per mton resistance zone.
2. LME INVENTORY UPDATE. LME canceled warrants spike almost 200 kmton in Malaysia; load-out queues ahead (supports P1020 premiums).
3. US MW PREMIUM ALERT. UP AND ABOVE: MW P1020 spot premium spikes to... cent/lb.
4. EUROPE GREEN EC ROD ALERT. ANOTHER BULLISH DEBUT: Green Wire Rod Upcharge as high as $... per mton.
5. EUROPEAN P1020 ALERT. BULLISH TREND ONGOING: Rotterdam P1020 duty-paid rallies to $... per mton.
6. EUROPE PFA ALERT. RISING FURTHER AMID PERFECT STORM: Low end of PFA premiums approaching $... per mton.
7. WORLD ROLLING MILL ALERT. TARIFFS CONFIRMED: EU Imposes Provisional Antidumping Duties on Chinese Aluminum Coils. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report
8. EUROPEAN SCRAP MARKET. TWO SCRAP TALES: Demand for extrusion scrap is up; secondary alloy and scrap markets are cooling off. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
9. GREEN ALUMINUM MONITOR: Greener means more scrap intake; Europe pays an upcharge for Green Wire Rod.
10. LME Cash–3M contango tightens amid a surge in warrant cancelations but remains supportive for cash-and-carry deals.
11. China's aluminum prices in range-trading mode, just below recent nine-year high.
More details in full report.