Europe aluminum premiums log first drop since Dec. 2011

Feb 07, 2013 | 12:37 PM | Jethro Wookey

Tags  aluminum, aluminum premiums, European premiums, LME, aluminum prices, Jethro Wookey

LONDON — European duty-paid aluminum premiums fell Feb. 6 for the first time since December 2011 as sellers accepted lower prices to shift material.

The duty-paid aluminum premium of AMM sister publication Metal Bulletin slipped to $290 to $300 per tonne from $290 to $305 previously, while the daily duty-unpaid range fell to $210 to $225 per tonne from $210 to $230.

Premiums fell as sellers had to lower offers in a very quiet spot market, with much of consumers’ first-quarter needs covered through short-term contracts signed late last year. ....

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