ALUMINIUM FOUNDRY WRAP: European, US premiums hit highs on stronger fundamentals

Aluminium primary foundry alloy premiums in Germany and Eastern Europe rose for a second consecutive month on Friday September 11, with stronger fundamentals supporting the increase.

Fastmarkets assessed the aluminium primary foundry alloy silicon 7 ingot premium, ddp Germany and the aluminium primary foundry alloy silicon 7 ingot premium, ddp Eastern Europe at $300-330 per tonne, with both up from $280-300 per tonne the month before. 
The move brings the premium to its highest since last November. 
Offers were reported at around $350 per tonne throughout Europe, with deals heard concluding at $340 per tonne. 
Quarterly and annual supply negotiations for aluminium primary foundry alloys are in full swing. Market participants are noticing stronger demand and tighter supply. 

The alloy tightness was attributed to aluminium producers shifting away from value-added product output earlier in the year, when...

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