Aluminum premiums up amid strong demand

Jan 24, 2013 | 04:58 PM | Michael Cowden

Tags  Midwest aluminum premium, aluminum, automotive, LME, London Metal Exchange, P1020, Michael Cowden

CHICAGO — Midwest spot premiums for aluminum P1020 have inched up, with some market players predicting further increases and others cautioning that such talk has been overblown.

Demand from both the financial community and physical users, especially in the automotive sector, remains strong, several sources said. The majority of sources contend that premiums of 11 cents were no longer available.

Reasons for the uptick include a seasonal boost in activity and ongoing supply restraints caused by the amount of material tied up in London Metal Exchange-listed warehouses.....

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