MARKET TALK: LME Aluminum Stocks Up; Back Attracts Metal

A 12,625 metric ton hike in LME aluminum stocks comes as metal continues to be attracted into warehouses due to the nearby tightness, says a broker. "There's enough material around that players don't need to hold onto it, so they're putting aluminum into warehouses and living more hand-to-mouth while the backwardation remains," he notes. LME stocks are 714,025 tons. LME aluminum largely shrugs off the stock hike and trades last at $2,674/ton, down from $2,685/ton overnight.