Midwest aluminum premiums may see dip
Oct 26, 2012 | 03:20 PM
| Suzy Waite
Tags
Aluminum,
Midwest spot premium,
London Metal Exchange,
contango,
warehouse,
Suzy Waite
NEW YORK — Spot Midwest aluminum premiums could dip by year-end due to seasonally weak demand, traders told AMM, though most agree that if premiums do take a downward turn, they won’t drop far.
"We do expect a seasonal slowdown. We’re getting to the year-end when there’s always a concern with bringing down inventories, so everyone will trade close to the vest and take just what they need," one trader told AMM. "If someone has a mandate to reduce inventory, you may see a couple of opportunities where metal comes out priced lower just to get it moved."....
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