Europe aluminum premiums slip again; sellers trim offers
Mar 07, 2013 | 12:24 PM
| Jethro Wookey
Tags
aluminum,
LME backwardation,
London Metal Exchange,
European premiums,
Jethro Wookey
LONDON — European aluminum premiums fell further at midweek as backwardations on the London Metal Exchange led traders to lower offers to secure business.
AMM sister publication Metal Bulletin’s European high-grade aluminum, minimum 99.7-percent ingot, E.U. duty-paid premium fell to $280 to $295 per tonne from $285 to $295 per tonne previously. It’s also below the Feb. 4 range of $285 to $300 per tonne, which marked the first drop in the premium since December 2011.
"The premium is certainly weaker and people are discounting a lot to get business," one trader source said.....
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