Strategic value seen in MW and Rotterdam forward curves; LME still targeting $2,600 per mton

1. ALERT-ALUMINUM PREMIUMS. MARKET IGNORING LIKELY RUSSIAN EXPORT TAX IMPACT: MW and Rotterdam forward curves offer strategic value even if tax is suspended.

For more details, please see our new “ALERT-ALUMINUM PREMIUMS” released earlier today.

2. LME prices fall but remain near six-week highs and targeting $... per mton; Q2 ends with biggest quarterly rally in four years (up... % q/q).

3. SHFE aluminum prices stuck just below... yuan per mton.

4. LME Cash–3M contango still wide; backwardations at the far end of the curve prevail amid uncertainty about Russian export duty.

5. US EC 1350 SCRAP ALERT. STRONG DEMAND FOR CUTTER GRADES: Buyers narrowing spreads as demand for prompt units increases. For more details, please subscribe to our specialized US and Mexico Aluminum Scrap Intelligence Report.

More details in full report.