The aluminum market is no longer trading with comfortable surplus assumptions. It is operating on razor-thin visible inventory that can be absorbed in a single demand surge. The real risk is not ...

Aluminum prices haven’t risen as much as crude oil, liquefied natural gas or fertilizer since the Middle East conflict began, ...

What is unfolding in the aluminum market is not just another tight-market narrative. It is the moment the tape realizes the warehouse doors were never as full as advertised. Mercuria’s call cuts ...