US Midwest premium sinks to March 2018 levels
Rotterdam premiums flat in quiet market
Main Japanese ports (MJP) premium steady on illiquidity
Brazil premium unchanged, trades thin
US aluminium premium falls to 13-month low
In the US, the P1020A Midwest premium fell to 18.5-19 cents per lb on Tuesday April 23, down from 19-19.5 cents per lb in the previous week’s assessment.
The latest assessment range puts the Midwest premium at its lowest level since March 2018.Spot activity was quiet in the market with the long Easter holiday weekend weighing on demand.
Some traders have been inclined to offer discounts to capture sales.
“You have a dichotomy where traders want to keep [the premium] up but are giving discounts to move the metal,” a US-based trader source said.
A secondary aluminium producer told Fastmarkets that he believes the premium has room to fall further, and is waiting for further declines before...