Steady fundamentals kept aluminium premiums unchanged in most regions on Tuesday November 10, with premiums in the United States Midwest, Rotterdam and Japan remaining stable and those in Italy and South Korea moving lower.
US Midwest premium holds amid tight supplyRotterdam premiums steady on supportive contangoMJP premium flat in quiet market
US Midwest premium holds after presidential election results
Fastmarkets assessed the
aluminium P1020A premium, ddp Midwest US at 13-14 cents per lb on Tuesday, unchanged since it rose to this range a week ago on November 3.
Most market participants said the premium was stable with discounting still heard to be limited.
On the demand side, a few inquiries arose late last week, soon set to conclude, demonstrating interest in the market.
Meanwhile, supply is heard to be tight.
Highly anticipated data on
US imports from Canada in September revealed late last week showed that shipments
fell below the 83,000-tonne monthly quota at just 66,100 tonnes.
"The Canadian prime import numbers are way down which is supportive of higher premiums, not a discount environment," one trader said.
Discussions this...