Metal Bulletin’s European duty-unpaid
aluminium premium stands at $100-110 per tonne – a 60% increase since the beginning of October – while the duty-paid
premium is $150-180 – 50% up over the same period.
“It has swung from a completely bearish sentiment at the Metal Bulletin conference [in September] to a much more upbeat outlook now,” a trader said.
Strong demand has seen premiums rise over the past month, particularly from traders looking to lock in gains after the backwardation on the October-November contract ended.
“Call any supplier and the typical answer is that they have to...