COLUMN-Aluminium producers prepare for troubled times ahead: Andy Home [Reuters]
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Source: Reuters
COLUMN-Aluminium producers prepare for troubled times ahead: Andy Home (The opinions expressed here are those of the author, a columnist for Reuters) * LME aluminium stocks and spreads: tmsnrt.rs/38kfF5F By Andy Home LONDON, Dec 9 (Reuters) - The aluminium market is in trouble again. The London Metal Exchange (LME) price touched a three-year low of $1,705 per tonne in October and has failed to stage any significant bounce over the intervening period. It is currently trading around the $1,760 level. Earlier this year there was a lot of excited talk in the market about growing supply deficits and falling stocks. Fast forward to today and LME stocks are surging again and no-one is talking about deficits any more. LME stocks are a poor lens through which to understand aluminium’s dynamics but the rapid increase in visible tonnage has reinforced concerns about a deteriorating demand outlook. Aluminium producers have been here before and know trouble when they see it with Hydro announcing
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