- US premium rises for sixth consecutive week, though the upswing has slowed
- Premiums in Europe steady to higher after record delivery stokes bullish sentiment
- Asian premiums stable ahead of holidays
Upswing in US Midwest premium slows
The US Midwest aluminium premium
has risen for the sixth week in a row to reach 13-13.5 cents per lb on Tuesday February 13, up from 12.75-13.25 cents per lb a week ago, with the upswing appearing to slow in line with spot demand from buyers.
“It does seem like there is very little [primary aluminium] transacting spot, but what little there is seems to be around 13 cents per lb,” according to one supplier, who confirmed to American Metal Market that he had not done any transactions at that level.
Other market participants indicated that they have not seen a lot of interest from spot buyers for P1020 over the...