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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