Aluminium premiums in Europe and Brazil moved higher during the week to Tuesday July 28 amid cautiously bullish sentiment, while other areas remained stable.
Premiums rise across EuropeDemand revival pushes Brazilian premium higherStable market conditions in United StatesChina static but bullishSouth Korea premiums up, while MJP is stable Contango pushes Rotterdam premiums higher
Aluminium premiums in Europe strengthened over the past week, with market participants more bullish thanks to a strong contango on the London Metal Exchange and more buying interest from consumers.
Fastmarkets assessed the
aluminium P1020A premium, in-whs dp Rotterdam at $105-120 per tonne on Tuesday, up $5 on the low end from $100-120 per tonne a week earlier.
A number of deals were concluded this week between $105 and $120 per tonne, with traders noting more requests than usual from buyers.
"Over the past couple of days there just seems to be a lot more interest from consumers again. We are seeing a few different tenders and people are happy to pay up," one trader said.
The...