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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