US Midwest premium sets new all-time high
- US Midwest sets new record-high level
- Rotterdam premiums stable at multi-year highs
- MJP, South Korea premiums unchanged amid holidays, thin trading
- Brazilian import premium rises, following European uptrend.
The US Midwest aluminium premium rose to another all-time high on Tuesday
, with the duty and freight components of the premium rising while physical market fundamentals remained bullish.
Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US
, at 26-27 cents per lb on Tuesday, unchanged from the preceding Friday but up by 2 cents from 24-25 cents per lb one week earlier, which was itself a record-high level.
The premium has continued to climb rapidly, with the current range up by 60.61% from the end of February, when it was 16-17 cents per lb.
“This move has been so fast and vicious that I don’t know what happens next,” one US trader said. “Nobody...