US Midwest premium approaches its all-time high
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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...