European premiums flat on demand uncertainty
- Illiquidity persisted amid lockdowns across Europe keeping premiums unchanged
- Asian markets waiting for quarterly negotiations to settle, with spot market uneventful
- US sees discounted deal in an otherwise muted market amid coronavirus pandemic
Aluminium premiums were mostly flat in an illiquid week of trading, while participants were mostly waiting to see how lockdowns and other disruptions throughout Europe might affect the physical market.
Logistics throughout Northern Europe continue to run, but at a higher cost and/or with more delays, most market participants said.
“For deliveries, we’ve had no cancellations of trucks; whatever we’ve booked is being done. There doesn’t seem like there’s a logistical disruption,” one trader said.
Fastmarkets assessed the aluminium P1020A premium, in-warehouse dup Rotterdam
, at $100-110 per tonne on Tuesday March 17, unchanged from last week.
Participants reported little business and most focused on arranging logistics...