LME rallies again above resistance zone; MW P1020 spot premium jumps to highest since 2015
1. LME PRICE UPDATE. LME prices rally back to new 33-month high, once again challenging the $... per mton resistance level. Breakout needs further confirmation.
2. US MW PREMIUM ALERT. HIGHEST SINCE 2015: MW P1020 spot jumps to... cent/lb.
3. NORTH AMERICA PFA ALERT. SOLD OUT: Supply constraints set to push PFA premiums higher.
4. EUROPEAN SCRAP MARKET. EXTRUSION SCRAP HEATS UP: Demand and prices jump across the board. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
5. GREEN ALUMINUM MONITOR: European wheel manufacturer inks Green Aluminum contract; Major Chinese producer working on emissions targets.
6. LME Cash–3M contango flattens but is still wide enough for cash-and-carry deals; longer term contangos tight.
7. SHFE aluminum prices rebound but still close the week lower.
More details in full report.