MARKET TALK: LME Aluminum Underperforms Due To Mkt Surplus

LME aluminum is underperforming against the other base metals as a result of an underlying market surplus, says HARBOR Intelligence. All leading indicators point to lower rates of global aluminum demand growth ahead," HARBOR Intelligence adds. Notes that these "underlying bearish fundamentals" suggest prices will range trade within the $2,650 a metric ton to $2,875/ton range this quarter. LME aluminum is last at $2,790/ton, down $10/ton from Thursday's high.