LME Aluminum 3M Select trades $40.50 higher to $3051 at 9:41:29 AM
(Bloomberg) – Aluminum contracts expiring tomorrow hit $31.73-a-ton premium to those maturing the following day on the London Metal Exchange, the highest level since 2021. The large backwardation in the closely watched Tom/next contract comes with inventories backing the LME’s contracts at the lowest level since 1990. LME data show two separate entities hold positions in inventories, Tom and Cash contracts each equal to 30%-39% of on-warrant stock.
LME Copper 3M Select trades $77 higher to $13753 at 9:41:30 AM
CME HRC Steel last traded at $1351 and $-6 lower at 9:09:19 AM6
