US spot P1020 premium stable at 20.75-21.25 cents per lb level, flat since August 10
Asian market participants await start of Q4 MJP negotiations
European traders expect strong alumina prices to support aluminium premiums in the near term
US market flat ahead of mating season
The US spot aluminium market was at a standstill this week, with American Metal Market’s assessment of the US Midwest spot P1020 premium maintaining its level at 20.75-21.25 cents per lb on Tuesday. That means the premium has been unchanged since August 10, or 18 days as of Tuesday.
This marks the longest period the premium has failed to move since the 20-day stretch recorded from December 19, when it was assessed at 9.4-9.5 cents per lb, through January 8. The premium ticked up to 9.5-9.75 cents per lb on January 9.
“I heard things are still quiet in anticipation of the ‘mating season’ in September through...