In Europe, volatile price spreads and large warrant cancellations on the London Metal Exchange caused rates in the region to narrow downward.
Rusal sanction removal has no immediate impact on global aluminium premiums
Rotterdam premiums decline on volatile LME spreads
MJP, South Korean premiums tick up
US Midwest premium flat amid lack of spot activity
Brazilian rates unchanged while market digests Rusal news
European premiums narrow but Rusal sanction removal largely priced in
Aluminium premiums in the Dutch port of Rotterdam narrowed downward this past week amid volatile price spreads, large LME warrant cancellations and low spot liquidity.
Fastmarkets assessed the benchmark Rotterdam duty-unpaid in-warehouse P1020A premium at $70-75 per tonne on January 29, narrowing downward by $5 per tonne from $70-80 per tonne last week.
The premium softened at the top end of the range on January 24 with narrowing contangoes in nearby LME aluminium price spreads exerting...