ALUMINIUM FOUNDRY WRAP: European premiums at record high; US holds steady

Aluminium foundry alloy premiums continued to be affected by the United States' sanctions against Rusal, with European premiums setting record highs on tight supply and the US premium holding firm.

European premiums find new high ground
Expensive trucking costs and tight availability pushed European premiums higher this week, with Metal Bulletin’s assessments in Germany and Eastern Europe hitting their highest since the monthly assessments began in 2017.
“Trucking has become a real issue for everyone - it is not only more expensive but there is limited availability of trucks at the moment, which is pushing things higher,” a trader said.
“There isn’t enough foundry around at the moment as it is - so add in the higher trucking costs to get it where you need to and things have become very expensive, especially in Eastern Europe,” a second trader said.

In Eastern Europe,...

Published

Kirk Maltais

Alice Mason

June 11, 2018

08:00 GMT

London, New York