Premiums in Rotterdam climb
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MJP static ahead of Q3 negotiations
Brazilian premiums dip
Rotterdam premiums supported by wide contango
Aluminium premiums in the Dutch port of Rotterdam edged higher this week, with sustained wide contangos on the LME continuing to be the main driver.
The benchmark Rotterdam P1020 duty-unpaid premium was at $90-95 per tonne on Tuesday, narrowing upward by $5 per tonne from $85-95 per tonne a week ago.
Multiple deals over the past week were concluded in a range of $90-95 per tonne. Market participants noted that securing tonnages below $90 per tonne is now difficult to achieve.
“The majority of business is being done at $90 and above this week. People are still trying to buy at lower levels but no-one wants to sell there,” a trader source said.