LME supported by bullish technicals; Brazil’s premiums down on supply competition

1. LME prices rebounded amid hopes of trade agreements and technical support around $2,550 per mton.

2. LME Cash-3M spread remains tight, additional LME inventory inflows in Malaysia (bearish P1020 premiums).

3. UPDATE! – MW PREMIUM. MWP IN EQUILIBRIUM UPDATE: HARBOR’s MW P1020 Duty-Paid Spot Premium in Equilibrium rises.

4. ALERT! – BRAZIL. INTENSIFIED COMPETITION: Brazil’s P1020/billet premiums down on supply competition.

5. China’s aluminum prices hardly changed at one-week lows.