Fastmarkets' assessment of the monthly average midpoint for the aluminium P1020A premium, ddp Midwest US
, was at $389.48 per tonne for the month of October. The premium is down from $391.32 per tonne the month before.
Weak demand and cheap scrap in the US were the primary reasons for the premium’s recent downtrend, while a persistent backwardation on London Metal Exchange aluminium spreads added further pressure to the market
Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 16.75-17.25 cents per lb ($369.27-380.29 per tonne) on Tuesday,...