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US spot billet upcharge reaches new record high; LME prices test resistance at $... per mton; LME forward curve remains bearish P1020 premiums


1. LME prices rise toward interim technical resistance at $... per mton. Door still open for a short-term revisit of $... per mton.

2. US BILLET ALERT. TWO NEW RECORDS: US spot billet reaches... c/lb, three more presses come online in 2022.

3. ALUMINUM PRODUCTION ALERT. RECORD ALUMINUM PRODUCTION: Vedanta increases production by... mton, another... mtpy on the way.

4. GREEN ALUMINUM MONITOR: Matalco becomes world’s largest Super-Green billet supplier.

For more details, please see our full “Green Aluminum Monitor” released yesterday.

5. China’s aluminum prices continue to face resistance at two-month highs.

6. LME Cash–3M contango widens as backwardation dissipates (still unsupportive for P1020 premiums).

More details in full report.