Aluminum premiums slip in slow spot market
Nov 30, 2007 | 09:40 AM
| Matthew Lerner
U.S. aluminum premiums have edged lower on softer market conditions as spot activity dwindles and market participants focus mainly on next year's needs.
The Midwest aluminum premium widened to a range of 3.25 to 4 cents per pound from 3.4 to 4 cents previously. "It's a wide spread, but that's normal in an illiquid market," one trader said, adding that spot sales have been few and far between. A second trader agreed. "It's so quiet that a truckload or two can make the market," he said.
But several sources reported sales at the upper end of the range, a sign that the market is resisting a significant downward move.....
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