FOCUS: Wide backwardation continues to fuel bearish summer for European ali premiums

A lingering backwardation in the July/August spread has pushed European aluminium premiums down past to levels last seen before the United States imposed sanctions on Russian producer Rusal.

The benchmark Rotterdam duty-unpaid P1020 in-warehouse premium fell to $90-100 per tonne on Tuesday June 19, down 39% from a high of $150-165 through April after the sanctions on Rusal.


Justin Yang

Hassan Butt

June 20, 2018

13:45 GMT