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Brazilian aluminium premiums follow Midwest hike

February 03, 2014 - 09:56 GMT Location: São Paulo

KEYWORDS: P1020 , Midwest , 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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