MW P1020 premium skyrockets as reality hits; LME prices regain upward momentum
1. LME prices up to key interim resistance $... per mton, weekly bullish close.
2. US MW PREMIUM ALERT. BULLISH REALITY: MW P1020 premium gaps to... cent/lb.
3. SECTION 232 ALERT. QUOTA FOR DEC EXCEEDED, BUT IT'S OK: Spirit of hard quota in exchange for exemption remains in place.
4. EUROPEAN P1020 ALERT. BULLISH RUN PAUSES: European P1020 premiums unchanged.
5. EUROPEAN SCRAP MARKET. WEAKNESS REMAINS: Europe’s secondary market underperforming. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
6. EUROPEAN BILLET UPDATE. EUROPEAN PREMIUM UP FURTHER: Spot and Q2 billet premiums jump to $... per mton; more gains seen ahead. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
7. GREEN ALUMINUM ALERT: NEW! HARBOR’s GREEN ALUMINUM MONITOR: Europe leads the revolution and is willing to pay.
8. LME Cash–3M contango remains tight amid February–March backwardation (supporting premiums).
9. China’s aluminum prices up to a one-month high, short-term technical momentum is now bullish.
More details in full report.