Rusal plans to double Boguchansky smelter capacity by 2030

The October monthly contract traded at a $22 premium to November on Tuesday, hitting a new high after the spread jumped by more than $9 the previous day.

Currently, the price of copper is 3.8 times that of aluminum.

Aluminum company will expand its Cienega de Flores plant in Mexico's Nuevo Leon state.

Traders are also focusing on a single large long position in the October aluminum contract, which is held by Trafigura.

Rusal, responsible for 5.5% of global aluminum supply, has been increasing deliveries to China.

China's aluminum producers have made rising profits due to elevated prices of the metal.

Copper got 46% of votes in an informal poll at the LME Seminar on which base metal is likely to have most upside.

Despite its significance as the marketplace where global benchmarks for aluminum, copper and nickel are set, the LME and its warehouse system regularly turn into a playground for traders.

As of Sept. 25, Mercuria was advertising four metals-related jobs on LinkedIn.