LME price down to key support amid stock buildup; EGA launches CelestiAl; Rusal aims to be zero net carbon
1. LME price downward pressure could intensify if prices fall below $... per mton and open door for $... per mton.
2. LME INVENTORY UPDATE. Massive buildups take place in Asian LME warehouses, nearby tightness could loosen ahead.
3. HARBOR FIRST ALERT. INDUSTRY’S MOST AMBITIOUS TARGET: Rusal aims to be world's first major aluminum producer to be net zero carbon by 2050.
4. GREEN ALUMINUM ALERT. WORLD'S FIRST SOLAR ALUMINUM:EGA to supply solar aluminum under CelestiAl brand.
5. SECTION 232 ALERT. CHANGES NOT LIKELY AND NOT SOON: Biden not uncomfortable with current Section 232 status.
6. EUROPE UBC UPDATE. WELL SUPPLIED: Europe’s UBC prices stable on ample availability. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.
7. LME Cash–3M and longer-term contangos widening toward premium-supportive levels.
8. China’s aluminum prices rise and remain above important support level.
More details in full report.