LME price support at $... holds; Plunge in US PFA spot premiums
March 23, 2023
ALERT! - US PFA.
1. LME prices climbed by 2% amid prevailing support at the $... per mton zone, the low end of the prevailing short-term trading range of $... per mton.
2. China’s aluminum prices test one-week highs.
3. ALERT! - US PFA. PLUNGE: US and Mexico PFA spot upcharges gap down to as low as... cent/lb.
4. ALERT! - EUROPE WIRE ROD. SOFTENING: European EC rod spot premiums weaken on supply competition.
5. LME Cash–3M contango narrows to two-week lows, still significantly above break-even levels for cash-and-carry deals amid surplus.