Aluminium premium in Italy plunges 26% after demand grinds to a halt

The aluminium premium in Italy declined by 26.8% this week, which market sources attributed to “non-existent” demand while countries battle with the Covid-19 outbreak and falling premiums in Rotterdam.

Fastmarkets assessed the aluminium P1020A premium, fca dp Italy at $120-140 per tonne on Tuesday from $175-180 per tonne a week ago.
Although shipments are not being sent to Italy, participants told Fastmarkets that demand is almost non-existent with a number of consumers closed and contracts being canceled.
“If you put a gun to my head it would be hard for me to tell you where the numbers in Italy are,” a trader said.

“Rotterdam [premiums] plummeting and the duty delta almost being worthless has not helped the Italy numbers. I know someone offered at $140 per tonne and was told no way...

Published

Alice Mason

April 07, 2020

15:52 GMT

London