The P1020 Midwest aluminium premium in the United States fell on Tuesday April 23 to its lowest point since March 2018, with several traders offering discounts so as to move metal and weak buying interest following the Easter holiday weekend.
Fastmarkets' P1020A Midwest premium assessment declined to 18.5-19 cents per lb on April 23, down by 0.5 cents from the previous assessment of 19-19.5 cents per lb. This puts the premium at its lowest point since March 2018, when Fastmarkets' assessment stood at 18-19 cents per lb.The premium was under significant downward pressure, with buyers having retreated from the spot market ahead of the Easter religious holiday, celebrated Sunday April 21.Some traders have been more willing to discount material to...