Strong demand, high freight rates boost Rotterdam premiums
- Rotterdam premiums boosted by demand, logistics
- MJP ticks down, South Korea unchanged
- US Midwest premium steady for three weeks
Premiums in Rotterdam continued to climb, due to strong demand, high freight rates and the return of a wide contango on the London Metal Exchange, according to market participants.
Fastmarkets assessed the aluminium P1020A premium, in-whs dp Rotterdam
at $250-260 per tonne on Tuesday, up 2% week on week from $245-255 per tonne the previous week.
Liquidity has been strong in recent sessions, with strong cross-sector demand supporting the premium, according to market participants.
"For duty paid, we have moved to current levels without the aerospace industry, so imagine, now they are coming back, how much extra demand there could be,” a trader in Europe said.
“We are getting inquiries from consumers who have been out of the market for months and months,”...