Aluminium foundry premiums in the United States and Europe have fallen over the past month, pressured lower by a lack of demand.
In the US, the aluminium wheel alloy silicon 7 ingot/t-bar premium, delivered duty-unpaid, declined to 9-12 cents per lb on July 12 from 12-15 cents per lb in the previous monthly assessment in June.The premium is now at its lowest since March 2018 when it stood at 10-11 cents per lb.Spot activity is increasingly quiet, with several market participants unaware of any trades outside long-term contracts. Seasonality is in play - demand is typically softer...