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LME prices up amid short-term support; Rally continues for European P1020 and billet spot premiums

EUROPEAN BILLET UPDATE.

1. LME prices rise as short-term technical support holds, still trading just below $... per mton.

2. SHFE aluminum prices stabilize near one-week lows.

3. EUROPEAN BILLET UPDATE. RALLY CONTINUES: Spot premiums jump to $... per mton, some early Q1 2022 contracts have been signed at $... per mton.

To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

4. EUROPEAN P1020 ALERT. FRESH HIGHS: Rotterdam premiums continue to rise, still not reflecting the full logistical impact of Russia’s export tax.

5. US 1070 ALUMINUM SCRAP ALERT. STRONG DEMAND: Consumers looking for prompt units of 1070 aluminum scrap tax.

For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

6. LME Cash–3M spread tightens but remains in contango; backwardations remain in place from October onward.

More details in full report.