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Aluminium alloy overtakes primary on market squeeze

July 26, 2010 - 00:00 GMT

Fast mover - Alloy prices accelerate as backwardation emerges

Cash aluminium alloy prices exceeded cash primary aluminium prices by around $100 per tonne in the official session on the London Metal Exchange on July 22 as tightness continues in the secondary grade. Cash aluminium alloy settled at $2,100/110 per tonne in the official session on July 22 compared with cash primary aluminium at $2,006/06.50 per tonne. The alloy contract first moved higher than the primary on July 16, having last done so in 2003. The alloy is moving up faster than the primary grade because consumers cannot buy what they...

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