Commodities
Record Aluminum Delivery Raises Specter of New LME Trading Games
- Spike driven by flows into warehouses in Port Klang, Malaysia
- Trafigura is said to have been key player behind deliveries
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A record delivery of aluminum on to the London Metal Exchange has raised the prospect of a new wave of trading games, just a few weeks after the exchange moved to clamp down on a previous play.
Aluminum inventories soared by more than 500,000 tons on Friday, the largest daily inflow in data going back to 1997. The influx was driven by deliveries into warehouses in Port Klang, Malaysia.