The contango in the London Metal Exchange cash/three-month aluminium spread widened in morning trading on Wednesday December 18 after a further 43,725 tonnes flowed into LME-approved global sheds.
Some 14,650 tonnes of material were put back into warehouses in Johor while a greater 29,085 tonnes were delivered into warehouses in Port Klang, Malaysia, the third day of significant inflows into regional LME warehouses. LME global stocks are now at 1,487,775 tonnes, up 8% since Monday when global inventory was 1,372,675 tonnes. Countering the significant inflows of aluminium today, which have been broadly attributed to weak demand for material and narrowing spreads, 22,950...