Midwest aluminum premiums rise on LME slide

Apr 05, 2012 | 02:35 PM | Suzy Waite

Tags  Aluminum, Midwest premium, Alcoa, Massena West, aluminum sow, LME warehouses, contango, Suzy Waite

NEW YORK — Midwest aluminum spot premiums have risen as consumer interest was pricked by a price slide on the London Metal Exchange.

The range for spot premiums for P1020 ingot has widened to 9 to 9.5 cents per pound from 9 to 9.25 cents previously, with sources pointing to increasing consumer demand and the continued contango on the LME.

"Premium-wise, we’re getting 9.25 to 9.5 (cents) for the May, June and July period," one trader told AMM. "They’re rising."....

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