LME price stuck around key support zone; US and Europe premiums declines on pause
June 21, 2022
US BILLET ALERT.
1. LME prices hardly changed amid selling above $... per mton, as expected.
2. China’s aluminum prices unable to regain upward momentum.
3. US BILLET ALERT. PAUSE BEFORE MORE DECLINES? US spot billet upcharge unchanged at... c/lb.
4. EUROPE WIRE ROD ALERT. PEAK? European EC rod premiums unchanged at all-time highs.
5. GREEN ALUMINUM ALERT. NEW GREEN BRAND: Grängesannounces sustainable product brand.
6. US 5052 SCRAP ALERT. WIDER SPREADS: Domestic 5052 scrap discounts are widening despite falling MWTP.
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7. LME Cash-3M contango narrows further, as tightness intensifies ahead of September.