The US Midwest aluminium premium was flat to start this week, with market participants testing the willingness of buyers to pay a premium above 21 cents per lb.
American Metal Market's latest assessment of the P1020 spot premium was at 20.25-20.75 cents per lb, unchanged from Friday July 27. The premium had been on an uptick since reaching a post-Section 232-tariff low of 19.5-20.25 cents per lb in mid-July. In reaching the post-tariff low, the premium dropped 9.7% from June 1 to July 10. It has since recovered by 3.1%.Spot activity is said...