GLOBAL ALUMINIUM WRAP: Premiums in Rotterdam, Italy inch higher

The duty-paid aluminium premium in Rotterdam edged higher on Tuesday June 11, supported by an uptick in demand. Sustained wide contango levels on nearby London Metal Exchange spreads motivated traders to hold on to metal, keeping premiums flat elsewhere.

Duty-paid Rotterdam premium ticks higher, sentiment bullish US Midwest premium holds on steady fundamentals Premiums flat across Asia Brazil premiums maintained in quiet market. Rotterdam, Italy premiums rise A persistent wide contango on the London Metal Exchange kept sentiment among most European participants bullish in a mostly quiet market on June 11. Fastmarkets assessed the Rotterdam duty-unpaid premium unchanged at $90-100 per tonne on Tuesday, flat week on week. Market participants continued to increase their offers, but were in no rush to sell because they can make a profit holding metal with the wide current spreads. “We’re happy to miss sales because we’re comfortable with our own supply balance and positions. At these numbers, we can carry at a small profit. Demand is quiet,” a trader in Europe said. The Rotterdam duty-paid premium pushed higher on Tuesday at $145-155 per tonne, up from $145-150 per tonne on June 7. Demand in the duty-paid market, particularly...

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Justin Yang

Karen Ng

Michael Roh

Hui Li

Renato Rostás

June 11, 2019

23:13 GMT

New York, London, Singapore, Shanghai, São Paulo