P1020 aluminum premiums hold firm

Jul 27, 2012 | 04:30 PM | Suzy Waite

Tags  Midwest aluminum spot premiums, Ormet Corp., London Metal Exchange, contango, backwardation, Suzy Waite

NEW YORK — Spot P1020 aluminum business came to a standstill in the past week, although sources say sluggish activity is normal this time of year.

Despite the slow week, Midwest spot premiums remained firm at record highs of between 10.75 and 11.25 cents per pound as supply remains tight with a contango on the London Metal Exchange, which is encouraging traders to keep aluminum stocks tied up in financing deals in LME-registered warehouses.....

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