LME price fails again to pierce resistance at $... per mton; US Billet spot premiums break record highs
1. LME prices rally... % on the latest upbeat manufacturing and economic data but fails again to pierce key technical resistance at $... per mton.
2. US BILLET ALERT. BREAKING RECORDS: Billet spot at... cent/lb; offers as high as... cent/lb.
3. US WIRE ROD ALERT. EVEN HIGHER: Spot EC rod premiums rally to... cent/lb.
4. BRAZIL ALUMINUM ALERT. PULLED HIGHER: Brazil’s spot P1020 premiums rise, even though weakening demand conditions persist.
5. EUROPEAN ROLLING MILL ALERT. FIRE TIGHTENS EUROPEAN ALUMINUM COIL MARKET: Spanish mill loses some cold mill capacity. For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.
6. GREEN ALUMINUM MONITOR: Closed-loop and recycling efforts announced amid Green Revolution.
7. LME Cash–3M contango narrows to a four-week low amid tighter conditions ahead of May (still supportive of cash-and-carry deals).
8. SHFE aluminum prices at two-week highs amid demand optimism.
More details in full report.