European aluminium premiums continue unchecked climb

Spates of buying have continued on the aluminium market in Europe, as premiums push still higher and participants shy away from taking a long-term view.

The Metal Bulletin European daily duty unpaid aluminium premium settled at $202.14 per tonne on June 29, following reports of business concluded at levels as high as $220 per tonne.
The range of premiums reported also rose to $170-220 per tonne for unpaid material, and climbed to $245-260 for paid material on both a cash and three-month basis.
“The sky is the limit. I’ve seen some patchy business at [higher levels],” a trader said.

“Because the consumers see that the premiums...

Published

Claire Hack

June 29, 2012

17:40 GMT

London