Aluminium premium in Italy plunges 26% after demand grinds to a halt

The aluminium premium in Italy declined by 26.8% this week, which market sources attributed to "non-existent" demand while countries battle with the Covid-19 outbreak and falling premiums in Rotterdam.

Fastmarkets assessed the aluminium P1020A premium, fca dp Italy at $120-140 per tonne on Tuesday from $175-180 per tonne a week ago.
Although shipments are not being sent to Italy, participants told Fastmarkets that demand is almost non-existent with a number of consumers closed and contracts being canceled.
"If you put a gun to my head it would be hard for me to tell you where the numbers in Italy are," a trader said.

"Rotterdam [premiums] plummeting and the duty delta almost being worthless has not helped the Italy numbers. I know someone offered at $140 per tonne and was told no way...

Another 'Bubble Check' for the gold sector

Gold stocks continue to hit new highs

Some mining stocks exposed to Burkina Faso take major hit

Gold stocks again hit new highs

Gold stocks reach new highs on metal price gain