Cautiously bullish sentiment nudges Rotterdam duty-unpaid P1020 premium upward

Premiums for duty-unpaid aluminium in Rotterdam rose on Friday July 24, with producers looking to send metal to markets outside of Europe and a wide contango on the London Metal Exchange supporting the slight rise.

Fastmarkets assessed the aluminium P1020A premium, in-whs dup Rotterdam, at $85-90 per tonne on Friday, the first change in the premium since May 22.
Bids, offers and assessments from market participants were consistently higher throughout the week ended July 24, but liquidity remained low. Market participants had to bid higher to catch the attention of producers which were looking to ship material to other regions, including into warehouses in Southeast Asia and to China.

The aluminium P1020A premium, cif Shanghai, was most recently assessed at $110-130 per tonne on June 30 and will be next assessed on July 28. Although Fastmarkets calculated the aluminium...

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