The US Midwest P1020 spot aluminium premium has stabilized after its recent drop, as the backwardation spread on the London Metal Exchange remained steady to end the week.
American Metal Market's latest assessment of the US Midwest premium is 20-20.75 cents per lb, unchanged from earlier this week and the lowest since early April, when it was 18.75-19.25 cents per lb. As for the backwardation spread of aluminium prices on the LME, the daily cash price closed the official session on Friday July 6 at $2,098 per tonne (95.2 cents per lb), while the three-month contract closed at...