Mega-recycling project announced in China; LME price can't rally past $... per mton resistance

April 7, 2021

CHINA & SCRAP ALERT.

1. CHINA & SCRAP ALERT. IT’S HAPPENING AND IT’S BIG: Mega-recycling project announced in China.

2. LME prices hold below key technical resistance at $... per mton.

3. SHFE aluminum prices back off from yesterday’s two-week high.

4. MW PREMIUM ALERT: CANADA P1020 EXPORTS DO IT AGAIN: Exports exceed quota, current high MW premium levels jeopardized.

5. NORTH AMERICA PFA ALERT. HICCUP: Subdued spot market appetite expected to be transient.

6. US EC WIRE SCRAP ALERT. HUNGRY FOR PRIME REPLACEMENTS: Rising demand and prices for EC wire scrap. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

7. LME Cash–3M contango widens from four-week lows amid looser conditions ahead of May’s prompt (supportive of cash-and-carry deals).

More details in full report.

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