Aluminum premiums under pressure, rebound eyed for ‘07
Dec 21, 2006 | 07:50 AM
| Matthew Lerner
Midwest aluminum premiums are coming under downward pressure following end-of-year sales by consumers with excess inventory, but contract premiums for next year show signs of renewed strength.
"Consumers are peddling metal. Everyone is extra leery of having metal on the books," one producer said.
Some small spot deals at premiums as low as 3.75 cents per pound have been reported. But this was a "phantom" number, the producer said.
"The Midwest premium needs to reflect replacement cost, but 4 cents to 4.25 cents won't attract units," he said. "Imports have dried up over the past two months."....
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