LME monitoring aluminium market after spike in spread
LONDON, Oct 2 (Reuters) -The London Metal Exchange (LME) said on Wednesday it is monitoring tightness in the aluminium 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 aluminium 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 aluminium over November hit $18 a metric ton on Wednesday from a premium of $5.85 about three weeks ago and a discount of $17.50 in July. CMALV24-X24
Reporting by Eric Onstad; Editing by Kirsten Donovan
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