- European spot market quiet; 2021 supply talks ongoing
- US Midwest premium steady on continued contract talks
- China arbitrage window opens again
- MJP spot market quiet while South Korea market bustles
Rangebound contango leads to static European P1020 premiums
A rangebound contango in the LME cash/three-month aluminium spread led to a distinct lack of trading activity in Rotterdam this week.
Market participants say the LME cash/three-month spread, trading between $14 and $15 per tonne contango so far this week, is not wide enough to increase demand for aluminium in Rotterdam nor narrow enough to encourage aggressively low discounting – leading to relatively stable premiums in the region.
Fastmarkets assessed the aluminium P1020A premium, in-whs dup Rotterdam
at $100-105 per tonne Tuesday, unchanged from a week earlier.
“There wasn’t even an inquiry this week, so I’m not surprised there’s not much change. The spread is an easy topic these days,” a...