LME prices climb back to two-year highs; MW P1020 spot premium range tightens; European billet premiums jump
1. LME prices climbed back toward the key $... per mton level; consolidation of breakout could open the door for $... per mton.
2. RERUN: US MW P1020 PREMIUM ALERT. Spot premium range tightens; confluence of bullish factors seen pushing the MW duty-paid premium toward the... cent/lb range.
3. EUROPEAN BILLET UPDATE. SOLD OUT: Q2 premiums jump to $... per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.
4. EUROPEAN SCRAP MARKET. BULLISH TREND INTENSIFIES: Secondary ingot prices continue to rise; extrusion scrap tightness increases. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
5. MEXICO SECONDARY ALERT. SECONDARY PRICES ALMOST AT PARITY WITH P1020: Mexico’s A380 prices jump to $... USD/lb. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
6. HARBOR’s Green Aluminum Upcharge assessed at zero.
7. LME Cash–3M contango narrows to a three-week low amid tight conditions ahead of February.
8. China’s aluminum prices rise to new three-year highs above 16,000 yuan per mton.
More details in full report.