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LME and Shanghai price rally continues; MW P1020 spot premium gaps up; European billet premiums jump

US MW PREMIUM ALERT.

1. LME price closes the week near two year highs; ongoing rally continues to target HARBOR’s forecasted range of $... per mton.

2. US MW PREMIUM ALERT. MW P1020 spot premium gaps up; we see market trending toward... cent/lb range.

3. EUROPE PFA ALERT. AUTOMOTIVE RECOVERY STRENGTHENING: Supporting spot and 2021 contractual PFA premiums.

4. EUROPEAN BILLET UPDATE. HIGHEST LEVEL IN OVER A YEAR: Spot and Q1 premiums jump to $... per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

5. EUROPEAN SCRAP MARKET. Extrusion scrap prices up some more; UBC and 5xxx scrap availability is ample. To see our full market intel on the European scrap market, please subscribe to our specialized Europe Scrap Intelligence Report.

6. MEXICO 6063 SCRAP ALERT. SCRAP MORE EXPENSIVE THAN P1020: Clean 6063 scrap prices rally further in Mexico amid supply crisis. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

7. MEXICO UBC ALERT. UBC PRICES JUMP: Domestic and Export markets competing over declining supply. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

8. US ROLLING MILL UPDATE. USITC issues affirmative determination on US foil imports (bullish prices). For more details, please subscribe to our specialized Aluminum Rolled Products Intelligence Report.

9. LME longer-term spreads tighten to a two-year low while Cash–3M contango narrows toward breakeven.

10. China’s aluminum prices consolidate rally to new three-year highs.

More details in full report.