The aluminium P1020 Midwest premium in the United States declined to its lowest level in 11 weeks on Friday March 29, with narrowed contango spreads on the London Metal Exchange prompting some traders to discount amid waning spot demand from consumers.
Fastmarkets AMM assessed the P1020 Midwest premium at 19-19.25 cents per lb on March 29, after holding the range at 19.25-19.5 cents per lb since the start of the month.Tightened spreads...