- Rotterdam DUP ticks up on tighter supply
- US Midwest premium flat in quiet market
- Spot MJP premium steady on limited trading.
Tightness in Rotterdam pushes premiums higher
The duty-unpaid premium in Rotterdam continued to rise over the past week supported by tighter supply and the contango in LME price spreads.
Fastmarkets assessed the aluminum P1020A premium, in-whs dup Rotterdam
, at $90-100 per tonne on Tuesday, up from $85-95 per tonne a week earlier.
No business was reported at prices of less than $90 per tonne over the week while the lack of available duty-unpaid cargoes helped to fuel the bullish sentiment.
“Everyone wants to buy,” a trader in Europe said. “It is a buyer’s market but people aren’t going to let go of their inventory cheaply.”
One deal was reported to Fastmarkets at a price as high as $104 per tonne, and a number of traders said that...