Midwest aluminum premiums slip 2.2%

Dec 03, 2008 | 10:59 AM | Tom Jennemann

Stagnant demand and lower oil prices have softened Midwest aluminum spot premiums slightly but producers and traders readily admit that little spot business is being conducted.

Midwest spot premiums now stand at 4.2 to 4.5 cents per pound, down about 2.2 percent from 4.3 to 4.6 cents previously.

"The (Midwest aluminum premium) has been supported by higher freight cost for months, but now with lower gas and diesel prices there might be a small amount of downward pressure on the premium," one U.S. aluminum trader said. "But it's hard to get a firm number because so little (spot) business is actually being conducted."....

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