GLOBAL ALUMINIUM WRAP: European premiums rise on contango; increased demand in Brazil

Aluminium premiums in Europe and Brazil moved higher during the week to Tuesday July 28 amid cautiously bullish sentiment, while other areas remained stable.

  • Premiums rise across Europe
  • Demand revival pushes Brazilian premium higher
  • Stable market conditions in United States
  • China static but bullish
  • South Korea premiums up, while MJP is stable
Contango pushes Rotterdam premiums higher
Aluminium premiums in Europe strengthened over the past week, with market participants more bullish thanks to a strong contango on the London Metal Exchange and more buying interest from consumers.
Fastmarkets assessed the aluminium P1020A premium, in-whs dp Rotterdam at $105-120 per tonne on Tuesday, up $5 on the low end from $100-120 per tonne a week earlier.
A number of deals were concluded this week between $105 and $120 per tonne, with traders noting more requests than usual from buyers.
“Over the past couple of days there just seems to be a lot more interest from consumers again. We are seeing a few different tenders and people are happy to pay up,” one trader said.

The...

Published

Alice Mason

Karen Ng

Michael Roh

Hui Li

Renato Rostás

July 28, 2020

22:25 GMT

London, New York, Sao Paulo, Shanghai, Singapore