LME prices post highest weekly close in ten years; Summer brake pauses bullish trend in Europe

1. LME prices close the week higher, testing the $... per mton resistance level.

2. SHFE aluminum prices test a new three-month high.

3. EUROPEAN P1020 UPDATE. UPTREND PAUSES: Slowdown season begins in Europe; premiums still seen with an upside bias.

4. EUROPEAN SCRAP MARKET. SUMMER BREAK: Europe’s secondary demand pauses, volume flows to Asia.

To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

5. GREEN ALUMINUM MONITOR: America has joined the Green Revolution and is willing to pay for it.

For more details, please see our “Green Aluminum Monitor” released earlier today.

6. LME Cash–3M backwardation emerges as nearby tightness spikes ahead of next week’s monthly prompt date.

More details in full report.