US aluminum premiums hit fresh record highs

Jan 10, 2013 | 03:11 PM | Suzy Waite

Tags  Midwest premium, P1020, aluminum, London Metal Exchange, LME warehouses, automotive, Suzy Waite

NEW YORK — A pickup in aluminum P1020 demand this week pushed Midwest spot premiums to fresh record highs, with most participants anticipating a further increase on the horizon.

Midwest premiums rose to 11 to 12 cents per pound from 10.5 to 11.5 cents previously.

"People came in for spot that never buy spot," according to one trader, who sold several hundred tonnes over the past week. "This one particular customer serves the automotive sector. I don’t know if it’s a one off or a trend, but so far so good." ....

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