MARKET TALK: LME Aluminum Tipped In $2,600-$2,900 Range S/T

LME 3-month aluminum likely to range between $2,600-$2,900/ton short-term, as options trading activity should make price moves volatile, says trader at Japan house. LME 3-month down $2 on London PM kerb at $2,770/ton. Trader says large orders of call options placed at $3,000 and $3,250 last Friday by funds and speculators, movements upwards or downwards will therefore be exaggerated by hedging activity to protect option positions. "That will give a punch to the market to move in a big way."