LME’s biggest two-week rally since 2018; Alcoa may idle more capacity in Spain
1. LME prices are headed for the steepest two-week increase since April 2018, bolstered by signs of economic recovery and upbeat price technical. Momentum remains supportive for a breakout toward... per mton.
2. LME Cash–3M contango narrows for a seventh-consecutive session on June–July tightness.
3. MW Duty-Unpaid P1020 premium assessed today at... cent/lb.
4. SPAIN ALUMINUM ALERT. San Ciprian smelting operations in Spain at risk as Alcoa contemplates a collective dismissal process.
5. US WIRE ROD UPDATE. Demand weakness from Deox and B&C subsegments lingers, but EC 1350 alloy demand seems resilient.
6. HARBOR FIRST ALERT. Matalco hires Carmo Perrella as technical VP; Wisconsin expansion progresses further.
7. EUROPEAN BILLET UPDATE. Spot premiums fall further in Northern Europe and Turkey, but extrusion demand improving from a low base. To see our full European Billet Market Intel and Premiums assessment please see our specialized European Billet Intelligence Report.
8. China’s aluminum prices attempting to consolidate above medium-term technical threshold.
More details in full report.