February 3, 2020
Executive Summary
1. US MW P1020 PREMIUM ALERT. MW premium falls further with some term deals at… cent/lb equivalent; four US smelters seen under water. (From January 30).
2. EUROPEAN BILLET UPDATE. Consumers and suppliers seem to share the view that the market may have bottomed out; no big recovery expected short term. (From January 30).
3. EUROPEAN P1020 ALERT. European duty-paid P1020 premium supported at a one- year high; limited upside seen amid lower LME prices and easing load-out queues. (From January 31).