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LME prices back below $1,700 and testing key support; MW P1020 bounces from two-year lows

Executive Summary

1. LME prices fall to key support zone of... per mton on mounting coronavirus fears.

2. US MW PREMIUM ALERT. MW P1020 firms up to... cent/lb, discounts under journalistic references narrow slightly. Downside seen very limited, with risks skewed to the upside.

3. ALUMINUM PRODUCTION UPDATE. Egyptalum still considering brownfield expansion projects for later this decade; modernization project likely by 2022.

4. LME Cash–3M contango narrows further but remains supportive for premiums.

5. China’s aluminum prices slide to a one-year low, could unleash a new leg down if support fails.

More details in full report.