LME Aluminium Premium Hits Five-Month High
Tight inventories pushed the near-term London Metal Exchange aluminium contract premium to a five-month high of 94 dollars a metric ton. Available stocks have declined significantly since Middle East shipments were disrupted.
The near-term aluminium contract premium over the benchmark three-month contract on the London Metal Exchange surged to $94 a metric ton on Tuesday, marking a five-month high driven by tightening inventories. The sharp backwardation reflects severe supply disruptions originating from the Middle East following military conflict involving the United States, Israel, and Iran. For industrial buyers and traders, the squeeze highlights persistent fragility in physical delivery channels.
