Thursday, March 20, 2014

LME Aluminium stocks rise by record 210,000 tonnes in one day

LME Aluminium stocks rise by record 210,000 tonnes in one day
Aluminium stocks in London Metal Exchange-listed warehouses leapt by nearly 210,000 tonnes on Wednesday March 19 – the largest single-day stock build in the exchange’s history.
Rotterdam warehouses took all of the day's inflows, which totalled a staggering 217,375 tonnes of aluminium. Market participants said that the most likely source of the metal is JP Morgan, which sold its commodities business to Mercuria in a deal announced on Wednesday. The sale includes ownership of the Henry Bath warehousing company. 

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