GLOBAL ALUMINIUM WRAP: European premiums continue uptrend; Sao Paulo premium refreshes 2019 low

Aluminium premiums in Europe continued an uptrend on Tuesday September 10, following higher regional benchmark premiums, while the domestic Brazilian premium refreshed its lowest level so far this year due to destocking in the market.

Premiums in Spain and Italy rise on firmer Rotterdam premiums. The domestic Brazilian premium hit the lowest this year with companies discounting metal. South Korean and Japanese premiums were steady with participants focused on quarterly negotiations. US Midwest premium stable for fifth consecutive week. Italy, Spain markets follow Rotterdam premiums higher Aluminium premiums in Italy and Spain rose on Tuesday following an increase in the Rotterdam premium the week before. Fastmarkets assessed the aluminium P1020A premium, fca dp Italy at $180-190 per tonne on Tuesday, widening upward by $5 per tonne from $180-185 per tonne a week earlier. The aluminium P1020A premium, fca dp Spain was similarly higher at $180-190 per tonne on Tuesday, compared with $175-185 per tonne on August 27. The rise in Spain and Italy premiums was driven by recent strength in Rotterdam aluminium premiums - which in turn were supported by relatively wide contangos in...

Published

Justin Yang

Karen Ng

Renato Rostás

Michael Roh

September 11, 2019

11:05 GMT

London, Singapore, Sao Paulo, New York