Investment funds have built net long positions in the LME aluminium contract above 130,000 contracts, the highest since early 2022, reflecting bullish sentiment in the metal. Reuters+1

Summary :

Fund money has surged into the London Metal Exchange (LME) aluminium contract over the past couple of months as investors bet that the market’s days of chronic oversupply are coming to an end.

Investors have built up record long positions, fuelling a six-month rally that has seen the LME three-month metal trade this week above the $2,900 per metric ton level for the first time since May 2022.

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