LME price struggling to trade above $... per mton; Magnesium prices continue to fall
April 21, 2022
MAGNESIUM UPDATE.
1. LME prices still in short-term range-trading mode; a bearish weekly close could open the door for levels of $... per mton and below.
2. MAGNESIUM UPDATE. PRICE DECLINE CONTINUES: China’s magnesium prices reach five-month lows.
3. China's aluminum prices remain stuck in a narrow range below a two-week high.
4. EUROPE PFA ALERT. HEADWINDS LINGER: PFA premiums unchanged as the auto supply chain struggles.
5. LME Cash–3M contango tightens to a four-week low amid Cash-May backwardation (bearish for spot P1020 premiums).
6. ALERT! - Mexico Aluminum Scrap. THE SILENT WAR: Mexican scrap buyers are more active than ever in Texas.
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