EXCHANGES - CME AUP open interest spikes, prices stay in tight range

Tom Jennemanntom.jennemann@fastmarkets.comSenior North American Correspondent973-204-3383

Winter Park, Florida 23/05/2016 - The CME Group's Aluminum MW US Transaction Premium (AUP) contract continued to trade just below 8 cents per pound, while both volumes and open interest spiked last week.

The AUP forward curve is slightly backwardated, with the May contract at 7.933 cents, up 1.1 percent week-on-week, while June was at 7.775 cents, down 0.6 percent, and July through November were at 7.7 cents, off 1.3 percent.

This remains in line with the the physical spot market. FastMarkets' Midwest premium last week traded in a tight range of 7.75-8.0 cents.

Open interest in the AUP climbed 5.6 percent or 1,448 lost to 27,356 lots (683,900 tonnes) while weekly trade volumes were 2,176 lots, up 133 percent.

(Editing by Mark Shaw)

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