The United States' Midwest aluminium premium surged on Tuesday July 21, with wide contango spreads on the London Metal Exchange and a more bullish sentiment causing traders to raise offer prices.
Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 10.5-11.5 cents per lb on July 21, up 15.8% from 9-10 cents per lb on Friday July 17 and up 22.2% from 8.5-9.5 cents per lb the week before.This is the highest level for the premium since it was assessed at 10-12 cents per lb on April 9.Few deals were heard in the market since...