1. US end-user aluminum demand manages to regain momentum in May. LME price consolidates below $2,500 per mton after rallying as much as 10% since April’s low.
LME 3M aluminum prices closed the session down 0.6% or $… per mton, at $… per mton. Prices found support after reaching an intraday low of $… per mton amid better-than-expected preliminary US business activity data indicating in May a rebound in manufacturing new orders and output…
2. SPECIAL ALERT! – EUROPEAN CBAM. PAUSE CBAM: European aluminum industry demands CBAM be paused.
The European Aluminium association has requested a pause in CBAM’s application as it believes that…
3. ALERT! – EUROPE P1020. UP AGAIN: Europe premiums rise marginally on the high end of the range.
Europe’s P1020 duty-paid premium increased for the second consecutive week as shipment delays and scrap tightness incentivize spot activity…
4. LME Cash-3M contango widens to $… per mton, still unattractive for inventory financing deals (bearish P1020 premiums).
The Cash-3M contango widened to a near two-week high of $… per mton from $… per mton yesterday. The Cash-June spread loosened to a contango of $…
5. China’s aluminum prices faced selling pressure at six-week highs.
SHFE front-month aluminum closed today’s session up 0.2% at … yuan per mton ($… per mton, ex VAT), a one-week high, before erasing gains in after-hours….