LME aluminium spreads push Rotterdam P1020 premiums to April highs

Aluminium premiums in Rotterdam are on an upward trend for the first time since the Covid-19 pandemic took hold of Europe, with benchmark P1020 premiums at four-month highs.

Fastmarkets assessed the aluminium P1020A premium, in-whs dup Rotterdam at $90-95 per tonne on Friday July 31, up from $85-90 per tonne the week before.
The midpoint of $92.50 per tonne is the highest since April 3 – the premium had been static over the last few months due to tepid demand.
Supportive London Metal Exchange spreads have stoked some bullishness in the market while sellers note there is also increased interest from consumers.
Market participants had cited the spreads as a key driver of the Rotterdam aluminium market in the third quarter.

“The spreads are good which is giving people a reason to be slightly more positive at the moment,” a European trader said. “Although it’s the summer months, if you need material you have to pay...

Published

Alice Mason

August 03, 2020

13:47 GMT

London