ALUMINIUM FOUNDRY WRAP: US premiums drop to 16-month low; Europe premiums resume dip on poor demand

Aluminium foundry premiums in the United States and Europe have fallen over the past month, pressured lower by a lack of demand.

In the US, the aluminium wheel alloy silicon 7 ingot/t-bar premium, delivered duty-unpaid, declined to 9-12 cents per lb on July 12 from 12-15 cents per lb in the previous monthly assessment in June.
The premium is now at its lowest since March 2018 when it stood at 10-11 cents per lb.

Spot activity is increasingly quiet, with several market participants unaware of any trades outside long-term contracts. Seasonality is in play - demand...

Published

Justin Yang

Michael Roh

July 12, 2019

17:36 GMT