LME prices post largest monthly decline since 2008; LME Cash–3M contango still near $... per mton
May 31, 2022
BRAZIL ALUMINUM ALERT.
1. LME prices plunge... % on demand contraction fears and fresh evidence that sanctions against Russian aluminum exports remain off the table. Ongoing LME price correction continues to target $... per mton zone.
2. China’s aluminum prices retreat to one-week lows.
3. BRAZIL ALUMINUM ALERT. MUTED: Brazil’s spot P1020 and billet premiums remain unchanged amid muted spot market appetite.
4. LME Cash–3M contango eases marginally from two-week highs; Contangos after June remain significantly loose.