MARKET TALK: LME Aluminum Likely In $2,600-$2,800 Range S/T

LME 3-month aluminum last at $2,690/ton, +$2 on London PM kerb. Aluminum likely to stay in $2,600-$2,800 range short-term as market players unwilling to build fresh short, long positions because of current "battle" between large long, short positions, says Tokyo-based trader. Notes cash-to-three-month backwardation remains large, now at $89.50, expects backwardation to last another 1-2 months until one of the two parties "gives up".