US Midwest premium stable; waiting game continues

The US Midwest aluminium premium has stayed flat, with market participants telling American Metal Market that they are in a holding pattern until clarity on Section 232 exemptions is provided.

American Metal Market’s latest assessment of the P1020 premium was again unchanged at the start of this week, holding at 22-22.5 cents per pound, where it has resided since May 8. The premium is off slightly from its year-to-date high of 22-23 cents per lb, reached in mid-April.

The primary driver for the premium’s stability has been the extended deadline for temporary 232 exemptions granted to the European Union, Canada and Mexico.


May 23, 2018

02:27 GMT