26.08.2014 - Aluminum Inventory: The Elephant in the Commodity Metals Room
OK, so what’s happening on the LME’s largest contract, primary aluminum? The cash to three months spread is down to just $17/ton and 118,850 tons of metal sitting in the exit queue at Vlissingen, Netherlands, has just been put back on the market according to a Thomson Reuters report by Andy Home. According to Home’s report, the front part of the LME curve has been tightening for several weeks now, to the point that the shortest-dated spreads are currently in backwardation. The LME is periodically distorted by major players taking massive positions on certain key dates and manipulating prices as a result...............................................Full Article: Source
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