GLOBAL ALUMINIUM WRAP: US, Europe premiums hit six-year high amid broad-based rally

Most aluminium premiums were up in the week to Tuesday April 20 following a persistent supply tightness and improved demand across the world, with the US Midwest and Europe premiums rallying to their highest since 2015.

US Midwest premium approaches its all-time high  European duty-unpaid premiums remain at six-year high  Global uptrend and rising freight rates drive Brazilian premiums up  Spot MJP moves up $20 per tonne on active trading US Midwest premium nears all-time high
Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 23.5-24.5 cents per lb on Tuesday, up by 1 cent from 22.5-23.5 cents per lb a week ago.

Spot deals and offers were heard within this range, while some traders also pushed for offers above it, expecting more gains in the near term.

The US premium started to rally at the beginning of March, when it was at just 16-17 cents per lb. The premium is now at its highest since February 2015 and many participants expect it to soon surpass the all-time high record of 24-24.25 cents per lb set in January 2015.

Participants still point...

Published

Alice Mason

Karen Ng

Hui Li

Renato Rostás

Michael Roh

April 21, 2021

08:48 GMT

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