Al buyers in Europe ready to book short-term if LME announcement delayed

European aluminium consumers will sign short-term deals for the first quarter of 2014 if the London Metal Exchange’s forthcoming announcement on its new warehousing rules is delayed, as they continue to wait to book 2014 business.

Market sources expect the LME to broadly confirm the new rules as laid out earlier this year, though there could be some amendments made. Aluminium premiums are expected to fall in the wake of the announcement, with more metal being made available to the market as some warehouses reduce intake. Consumers want to wait for those falls before committing to 2014 business, but could secure first-quarter volumes ahead of any announcement should it be delayed into December. “We’re still waiting for an...

Published

Jethro Wookey

October 29, 2013

15:00 GMT

London