Trafigura buys large aluminum volumes in LME squeeze
In short
Trafigura Group bought large amounts of aluminum on the London Metal Exchange. This happened as inventories of the metal fell sharply and a historic squeeze formed.
The move made Trafigura a key player in the tight aluminum market. Traders are watching the squeeze because low stockpiles can affect prices and supply.
What the reporting says
Trafigura Group has bought significant volumes of aluminum on the London Metal Exchange amid a historic squeeze as inventories of the metal plunge. The brief ties the move to the sharp drop in available LME aluminum stockpiles.
Why it matters
Trafigura Group’s large aluminum purchases on the London Metal Exchange came as inventories plunged and a historic squeeze developed.