Brazilian premiums up on recovery signs
- Brazil premiums up on stronger spot interest
- Rotterdam premiums hold in quiet conditions
- United States premium steady, while uncertainty stifles trading
- Spot inactivity keeps MJP, Korea premiums flat
Aluminium import premiums moved higher in Brazil with discounted offers no longer available for clients and most sellers seeing a broader uptrend on the contango on the London Metal Exchange.
Fastmarkets assessed the aluminium P1020A premium, cif dup Brazilian main ports
at $150-160 per tonne on Tuesday, up by $10 from $140-150 per tonne on June 30.
Sellers were aiming for $160-per-tonne deals, but most offers were presented to customers at $150-155 per tonne. Previously reported premiums at $140-145 per tonne were no longer available this week.
“On top of a somewhat global uptrend, with offers of Rotterdam duty-unpaid material close to $100 per tonne, for example, I believe Brazilian demand is growing,” one trader source...