Fastmarkets most recently assessed the aluminium P1020A premium, in-whs dp Rotterdam
at $100-110 per tonne Tuesday June 30.
Here are five things sources told Fastmarkets are the key talking points in the European aluminium industry:
Eyes on Canada
Physical traders in Europe continue to monitor whether or not the US will put tariffs on Canadian aluminium.
Expectations of potential duties against Canada helped build bearish sentiment in the European duty-paid market, pushing premiums lower last week. Canadian aluminium is duty-free in Europe, where premiums currently remain high enough to attract metal.
In recent days, there have been increasing doubts that Canadian metal will face duties. Participants initially expected tariffs would be announced June 26, but with no announcement so far and the US-Mexico-Canada Agreement (USMCA) coming into effect on July 1
, the prospect of an immediate duty on Canadian metal is now said to be less likely.
“We've been on...