MARKET TALK: Guinea Crisis Adds To Aluminum Tightness

Political crisis in Guinea, effectively halting bauxite mining at Rusal's and Alcoa's (AA) operations, will boost aluminum prices and add to already existing technical tightness in market, says Standard Bank. LME data show dominant large position holder of more than 40% of open interest. Last boat loaded with alumina appears to have left Guinea, tightening alumina market and boosting aluminum prices, keeping cash-to-3-month backwardation firm at $80/ton. LME 3-month aluminum last trades at $2,810, down $20 on yesterday's PM kerb.