US Midwest Al premium rises after Kitimat strike

July 28, 2021 / www.metalbulletin.com / Article Link

The US Midwest aluminium premium shot to a new all-time high on Tuesday July 27, after a strike at a Canadian aluminium smelter bolstered already bullish sentiment.

Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 31-32 cents per lb on July 27, up 3.28% from the previous all-time high of 30-31 cents per lb, where it had held for since July 9.
Spot transactions were reported within this range. Most participants believe it is unlikely for spot deals to be concluded below this range anymore.
Some offers were heard above the assessment range, but no deals were reported at those levels yet.

Spot demand has been noticeably quiet in recent weeks,...

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