MARKET TALK: LME Aluminum To Range-Trade In 1Q, Head Dn In 2Q

LME aluminum prices likely to range-trade at around $2,650-$2,875/ton for remainder of 1Q, then fall from 2Q on increasingly bearish fundamentals, says Harbor Intelligence; slowdown of global aluminum demand, acceleration of supply, lower production costs to weigh on prices. Notes dominant position holder is "playing with the market" as increases cash position back to 80%-90% as shown in LME data, after reducing position to 40%-50% band previous day. LME 3-month aluminum last trades at $2,763, up $13 vs yesterday's PM kerb.