The US Midwest aluminium premium has retreated to a level last seen in late March to early April, before the effect of sanctions against Russia set into the market.
American Metal Market's assessment of the spot P1020 premium has dropped to 21.25-21.5 cents per lb on Tuesday June 26, the lowest level since the premium was assessed at 18.75-19.25 cents per lb on March 27 and where it remained until April 9.US sanctions against Russian oligarch Oleg Deripaska and companies in which he holds an interest, including UC Rusal, were announced by the Department of the Treasury on April 6. This sent the premium to a more than three-year high of 22-23 cents per lb on...