Midwest aluminium premiums slip

Midwest aluminium premiums dropped again this week as market sources fretted about increased import volumes and the potentially chilling impact of a cold winter on demand.

Metal Bulletin sister title AMM’s spot P1020 premium slipped to 18.75 to 19 cents per lb on March 5 from 19 to 19.5 cents previously.
“The premium ran up fast, and what goes up must come down,” one trader said, estimating that premiums could fall another penny before March is over.

The trend results in part from high premiums in the USA attracting metal that might ordinarily have gone to Europe or Asia, market sources said. Material was redirected...


This article was first published by AMM

March 07, 2014

04:51 GMT