Aluminum warehouse orders, premiums signal scarcity of metal

Rising orders to draw aluminum from warehouses and higher premiums for the lightweight metal signal a tightening market even as London Metal Exchange stockpiles remain near February’s record high, according to an April 16 BloombergBusinessweek article.

Premiums are up 27 percent this year in Europe and 19 percent in the U.S., and shipping backlogs in LME warehouses have left consumers struggling for supplies, Citigroup officials are quoted as saying, in the article.

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