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...