A post by @FirstSquawk on X.

Trafigura has emerged as a central figure in the London Metal Exchange aluminium squeeze tied to China trade, according to reports, having built a significant long position in the metal. The commodity trading house is described as a "key player" in the tightening of LME aluminium, where nearby contracts have come under pressure as available stocks dwindle. The positioning matters because LME aluminium benchmarks underpin pricing across physical and financial contracts globally, and a concentrated long held by a major trader can amplify spreads and delivery dynamics. Traders will watch whether Trafigura adds to or unwinds the position, and whether the squeeze in nearby LME aluminium spreads persists or eases as more metal is delivered into exchange warehouses.