US buyers seek fixed aluminum premiums amid rise

Rising Midwest spot aluminum premiums have led to requests from some consumers for fixed premiums for the rest of 2012.

"We’ve got the wind at our backs," one trader told AMM. "It’s a nice market to be in right now."

"It’s mostly due to good demand right now, and the contango is always a factor. The trading community has no incentive to sell," said a producer source who closed a spot deal Wednesday at an 8.6-cent-per-pound premium.

"It seems like good consumer interest combined with a general attitude to hold tight on metal stocks,"...

Published

Suzy Waite

February 24, 2012

00:09 GMT

New York