Midwest aluminum spot premiums hold firm
May 25, 2012 | 01:42 PM
| Suzy Waite
Tags
Aluminum Midwest spot premium,
London Metal Exchange,
LME,
contango,
Suzy Waite
NEW YORK — Midwest aluminum spot premiums stayed firm in the past week as the ever-present contango encouraged traders to finance metal in warehouses.
Spot premiums remain in a range of 10 to 10.75 cents per pound. "Premiums are still strong. Ten cents is no problem right now," a trader said.
"We haven’t sold anything under 10.5 (cents) in a while now," a second trader said, noting that he recently closed several deals for small truckloads for immediate delivery at 11.5 cents. ....
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