LME Cash price plummets; MW P1020 spot premium falls further
May 19, 2021
US MW PREMIUM ALERT.
1. LME PRICE ALERT. LME Cash price plunged to as low as $... per mton; a bearish weekly close could confirm open door for a further sharp retracement toward $... per mton.
2. SHFE aluminum prices down to a three-week low.
3. US MW PREMIUM ALERT. DOWN AGAIN: MW P1020 spot premium drops to... cent/lb.
4. HARBOR FIRST ALERT! - AL+ will be the name of the world’s greenest major primary aluminum producer.
5. LME Cash–3M contango widens further to new two-month highs; backwardations at the far end of the curve ease with lower prices.
More details in full report.