Aluminium premiums in Europe, the United States and Asia were mostly steady week-on-week on Tuesday May 12, with the gradual restart of industries in various parts of the world having little immediate effect.
Rotterdam P1020 premiums flat while Italy premium ticks upwardUS Midwest premium unchanged despite automotive industry restartsAsia premiums flat in quiet market.
Italy premium ticks upward
The continued resumption of industrial operations in Italy helped the aluminium premium there to edge higher, while premiums throughout the rest of Europe remained relatively stable.
Fastmarkets assessed the
aluminium P1020A premium, fca dp Italy, at $120-135 per tonne on May 12, widening upward from $120-130 per tonne the week before.
Some deals were reported above $140 per tonne, but this trend was limited, and many still found it difficult to transact at such prices.
Despite the rebound in recent weeks, the premium remained close to its lowest level since Fastmarkets first started tracking the market in 2011.
The increase was driven by slightly more demand in the region, with more of Italy's industry reopening. Market participants were skeptical, however, about how long...