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Midwest aluminium premiums steady

April 14, 2014 - 12:09 GMT Location: Chicago

KEYWORDS: Midwest aluminium premiums , UK HIgh Court , LME warehouse rules

Midwest aluminium premiums have held steady after a court decision in the UK threw the direction of the market in doubt.

Metal Bulletin sister title AMM’s spot P1020 premium was unchanged at 18.25 to 18.5 cents per lb on April 11 after edging up earlier in the month following a UK High Court of Justice ruling that blocked implementation of proposed reforms to London Metal Exchange warehousing policies.   Some sources reported offers of metal at higher numbers, but it was unclear if any significant volumes were transacted at premiums above 18.5 cents per lb. "It could...

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