LME price falls the most in two weeks; MW premium fwd curve shows a bearish backwardation

1. LME prices extend decline as short-term correction seems to be targeting the $… per mton zone.

2. SHFE aluminum prices down and nearing again the… yuan per mton mark.

3. US BILLET ALERT. EARLY BIRDS: First 2022 billet signed at… cent/lb.

4. CME MW premium backwardation remains steep.

5. LME Cash–3M contango practically unchanged while long-term backwardation eases.

More details in full report.