US aluminum premiums level in shortened week

Nov 21, 2007 | 06:24 AM | Matthew Lerner

U.S. aluminum premiums were steady in tepid holiday week trading while most consumers focused on covering their needs for 2008.

The Midwest aluminum premium remained in a range of 3.4 to 4 cents per pound with more deals reported toward the upper end of the range.

One trader reported selling several hundred tonnes at premiums of between 3.75 and 4 cents per pound, although he characterized the market as quiet.

A second trader said he was offering between 3.5 cents and 4 cents per pound and still getting takers in that range for a little bit of spot business. He said he sold tonnage to Mexico and some extruders who ran short of scrap as well as to some regular consumers that produce alloys.....

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