MARKET TALK: LME Aluminum Tightness Attracts Stock Build

A 9,025 metric ton hike in LME aluminum stocks is the result of more metal attracted to warehouses due to the tightness in the nearby spreads, a broker notes. The rise also shows the dominant LME short position has been rolled forward, he adds, with recent LME data showing a payer or group of players holds a 40% or more of the futures positions open for February and March. "It's unlikely the short has been delivered against," he adds. LME three-month aluminum trades last at $2,700/ton, more or less unchanged overnight.