GLOBAL ALUMINIUM WRAP: Rotterdam duty-paid premium sinks to 14-month low; US, Japanese markets also weaken

The duty-paid Rotterdam premium sank to a 14-month low on Tuesday March 31, while premiums also declined in the United States and Japan, as disruptions stemming from the Covid-19 pandemic continue to stifle demand.

  • Rotterdam duty-paid premium slips to 14-month low.
  • US premium falls again on automotive shutdowns.
  • MJP premium dips in quiet market.
  • Chinese market steady.
Rotterdam premium duty-paid premium falls to 14-month low following physical sell-off
Aluminium premiums in Europe fell this week following a physical selloff of metal throughout the continent, particularly in northern Europe.
Producers throughout Europe are increasingly shifting away from value-added products and producing P1020A instead due to a complete lack of demand for products, market sources told Fastmarkets.
Existing metal, originally destined for virus outbreak lockdown-affected regions like Italy and Spain are being sold in Northern Europe as well, further fueling downward pressure on premiums.
“With Italy pretty much shut down, it’s going to impact [premiums across Europe] quite quickly. [The metal sold] will be stuff that has been already sold and pushed back,” a trader said.

Fastmarkets assessed the aluminium P1020A premium, in-whs dp Rotterdam...

Published

Justin Yang

Karen Ng

Hui Li

Michael Roh

April 01, 2020

04:31 GMT

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