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...

China's gold holdings to central bank reserves still low

China has broad effect on gold market

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals