Elsewhere, the spot main Japanese ports (MJP) premium declined amid a lack of buying interest in a well-supplied market, while rates in the United States and Brazil were unchanged from a week ago.
Rotterdam market boosted by contangos in nearby LME spreads
MJP premium down on lacking of buying interest
US Midwest premium flat on stable fundamentals
Spot activity lull keeps Brazilian market unchanged
LME contangos push Rotterdam premiums higher
Aluminium premiums in Rotterdam rose over the past week with nearby LME spreads in contango remaining supportive.
The LME’s nearby cash/June spread was at $13 per tonne contango at the close of trading on May 14, while the cash/three-month spread widened to $31.25 per tonne contango from $28 per tonne a week ago.
The duty-unpaid premium for P1020 in-warehouse Rotterdam narrowed upward by $5 per tonne to $85-90 per tonne on May 14 from $80-90 a week ago, according to Fastmarkets’ latest...