Aluminium premiums to drop on LME rules – Century ceo

Regional US aluminium premiums, including midwest premiums, are likely to drop in response to proposed changes to London Metal Exchange warehousing policies, according to Century Aluminum’s top executive.

The proposed rule changes would limit the ability of warehouses to continue accumulating metal, Michael Bless, president and ceo of the Chicago-based aluminium producer, said during a conference call following the release of second-quarter earnings. “The markets right now are really in a state of flux pending further developments,” Bless said. “But it goes without saying that, all else being equal, any new rules of this kind are likely to have a downward effect on premiums. It’s just difficult at this point to predict the extent of that impact and the timing of it.”...


This article was first published by AMM

August 01, 2013

09:55 GMT