Aluminium premiums were largely stable in the global markets in the week ended Tuesday August 6, except in the US Midwest, where a lack of demand pushed the premium downward.
US Midwest premium falls to lowest since March MJP premium stable but some lower deals heard due to financial year-end stock clearing European market flat with activity expected to resume later this month.US Midwest premium softensIn the United States, Fastmarkets' assessment of the aluminium P1020A premium, ddp Midwest US, went down to 17.50-18.00 cents per lb on Tuesday, its first move since falling to 17.75-18.25 cents per lb on July 12.This meant that the premium was down to its lowest level since March 8, 2018, when it was assessed at 16.50-17.50 cents per lb.Spot-market activity remained quiet, with few consumers interested in obtaining additional supplies on top of their contracted deliveries."There's no activity. It's summertime," one trader said.Sources have lowered their valuations of the premium, with most no longer considering deals at prices higher than 18 cents per lb to be achievable in the current market. Many traders have...