LME aluminium's $45/t backwardation – bullish or bearish for premiums?

A growing disparity in aluminium stock levels across the globe means that the wide backwardation on the London Metal Exchange is having very different effects on physical market premiums, participants told Fastmarkets.

Despite a large 120,000-tonne delivery of aluminium into LME warehouses in Asia last week, total LME stocks fell to 855,525 tonnes on Thursday February 17, with 65.5% of total units...


Alice Mason

Imogen Dudman

Liz Ng

February 18, 2022

09:23 GMT

London, Singapore