The P1020 Midwest aluminium premium in the United States edged higher on Friday April 5 amid tightening supply and a wide contango on the London Metal Exchange.
Fastmarkets AMM assessed the P1020 Midwest premium at 19.25-19.5 cents per lb on April 5, up from 19-19.25 cents per lb, where the premium had held since March 29.Traders pointed to the high cost of replacing metal - citing the US Section 232 tariffs on imported material, as well as wide contagoes on nearby LME spreads - as reason for holding on to...