Texas and Mexico's aluminum industry in crisis; LME price rally approaching HARBOR's target
1. ALERT! - TEXAS & MEXICO ALUMINUM CRISIS. Producers across the entire aluminum value chain in Texas and Northern Mexico are reducing or fully halting production amid skyrocketing natural gas prices and supply shortages.
2. LME PRICE ALERT. BULLISH BREAKOUT: LME price approaching HARBOR’s $... per mton target.
3. MEXICO SECONDARY ALERT. SECONDARY PRICES UP AGAIN: Mexico’s A380 prices up to $... USD/lb. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.
4. US ROLLING MILL ALERT. GETTING STRONGER: Novelis debuts its strongest aluminum automotive alloy yet.
5. EUROPEAN ROLLING MILL ALERT. SCRAP IS THE INPUT OF CHOICE: Constellium to raise funds and increase scrap intake.
6. LME Cash–3M contango widens to double digits as March backwardation dissipates.
7. The Shanghai Futures Exchange (SHFE) was closed due to the weeklong Lunar New Year holiday. Trading will resume tomorrow Thursday, February 18.
More details in full report.