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Brazilian aluminium premiums follow Midwest hike
February 03, 2014 - 09:56 GMT
Brazil aluminium premiums
Average spot P1020 aluminium premiums in Brazil are at $600 per tonne, with an upward trend seen as Midwest premiums rise, market participants have said.
Local premiums, which were at no less than $500 per tonne in
mid-January, are seen to be driven by increased demand and
falling domestic production. Historically, Brazilian premiums
have followed the movements in Midwest levels. Metal Bulletin
sister title AMM’s spot P1020 premium was
at 20.75 to 21 cents per lb on January 30, from 20.5 to 21
cents per lb on January 22. Premiums were at 11.5 to 12 cents
at the beginning of January. "It is a simple math. Producers
add the Midwest to how much it would cost to import. Their
advantage is that they can deliver within a...
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Euromoney Institutional Investor PLC.
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