The US Midwest aluminium premium has stayed put this week, but talk among market participants suggests that softening of the premium is a distinct possibility in the near future.
Fastmarkets AMM assessed the spot P1020 duty-paid premium at 19.75-20.25 cents per lb on Friday October 12, unchanged from earlier this week. Spot activity has increased from earlier this week - buyers are said to need primary aluminium to mix with their scrap inventories in order to use them. "Buyers are full of scrap - they need some P1020 to sweeten...