Aluminum rose in London, heading for the longest-ever run of monthly advances amid shrinking supplies. Copper and tin gained.
Inventories of aluminum tracked by the London Metal Exchange are at a two-year low. The metal for immediate delivery settled yesterday at a $3.25-a-metric-ton premium to the contract for delivery in three months, the first backwardation since December 2012 and a sign of limited supplies. The fee to borrow the lightweight metal for one day jumped to $10 a ton yesterday, the highest since December 2012.