LME prices post largest monthly decline since 2008; LME Cash–3M contango still near $… per mton

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.