LME prices plunge below $… ; European billet premiums at $… per mton

1. LME prices plummet $… per mton. Correction toward $… per mton zone remains on.

2. SHFE aluminum prices extend losses and reach one-week lows.

3. EUROPEAN BILLET UPDATE. AS HIGH AS $…: European spot billet premiums jump to $… per mton; some Q4 contracts signed as high as $… per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.

4. US PFA ALERT. STABLE AND LOOKING AT 2022: PFA spot premiums unchanged, but inquiries about 2022 contracts are starting to pop up.

5. LME Cash–3M backwardation intensifies amid tighter conditions ahead of July; longer-term backwardations ease.

More details in full report.