US Midwest premiums may continue descent

US Midwest premiums for P1020 aluminium could continue to drop through the rest of 2015 and into 2016, Lawrence Capital Management Inc principal Timothy Hayes told delegates at the Aluminum Association’s spring meeting this week.

The rapid decline in Midwest premiums was one of the biggest topics of interest at the conference in Dana Point, California, with many attendees who spoke with Metal Bulletin sister publication AMM unsure of the "wild" direction of the market despite ever-increasing demand in the automotive market. AMM’s most recent assessment put premiums in a range of 15.75 to 16 cents per lb, down 11.2% from 17.75 to 18 cents last week and 34.2% below the record-high 24 to 24.25 cents in mid-January. Hayes told...

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This article was first published by AMM

April 24, 2015

01:44 GMT

New York