Aluminum awaits New Year as business fades

Nov 23, 2004 | 10:38 AM | David Brooks

Spot business in the Midwest aluminum market has all but dried up as participants ride out the end of the year.

As a result of thin volumes, premiums are difficult to pin down and the age-old argument of whether a lack of business automatically means prices should fall has once again raised its head.

While one trader said premiums had slipped to 7.5 to 7.75 cents a pound, a second trader said he wouldn't be a seller at those levels because replacement costs remain high.....

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