GLOBAL ALUMINIUM WRAP: US Midwest premium at all-time high

Most aluminium premiums were stable in the week to Tuesday April 27, apart from the US Midwest premium, which surged to an all-time high on sturdy demand and short supply.

US premium at all-time high but still not attracting overseas unitsRotterdam premium rises $5 per tonne at the top end of the range week on week; market stabilizingMJP premium stays unchanged on short covering, South Korea demand thins outChina premium flat, market expects arb to open soonUS Midwest premium soars to all-time high
Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 24-25 cents per lb on Tuesday, up by 1 cent from 23.5-24.5 cents per lb a week ago.
The premium is now at its highest level since Fastmarkets started publishing the assessment in 2003.
The premium surpassed the previous all-time high of 24-24.25 cents per lb in January 2015.
US market participants said that, despite the premium's all-time high level, it is still not elevated enough to attract overseas units.

Strengthening premiums in Rotterdam and Japan have positioned Europe...

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