MARKET TALK: LME Aluminum Gains, Feb-Mar Spreads Tight

London Metal Exchange aluminum prices continue to gain in strength as the tightness in the nearby spreads moves into the Feb-Mar dates, says a broker. Feb-Mar trades in a backwardation of around $43 a metric ton with the tomorrow-next position at $2.50/ton back. LME three-month aluminum trades last at $2,770/ton, up from a low of $2,717.50/ton Monday.