Canada to hit Chinese steel and aluminum with tariffs on Oct. 22
Country published a list of dozens of Chinese steel and aluminum products on which it will place a 25% tariff, starting in three weeks.
The London Metal Exchange (LME) said on Wednesday it is monitoring tightness in the aluminum market, which has seen a key spread shoot to a sizeable premium and one party amass a large long or bullish position in the October contract.
“The LME is closely monitoring the tightness in the aluminum market and has the necessary controls in place to ensure continued market orderliness,” the LME said in response to a request for comment.
The premium of LME October aluminum over November hit $18 a tonne on Wednesday from a premium of $5.85 about three weeks ago and a discount of $17.50 in July.
Read More: Aluminum squeeze rolls on with key LME spread spiking again
(Reporting by Eric Onstad; Editing by Kirsten Donovan)
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