Aluminum premiums hold despite mart anxiety

Apr 05, 2013 | 08:53 AM | Michael Cowden

Tags  Midwest premium, P1020, scrap, automotive, aluminum, aluminum premium, aluminum prices, LME Michael Cowden

CHICAGO — Midwest P1020 spot aluminum premiums largely held steady this past week despite concerns that already tepid buying activity would slow further and chatter about premiums potentially softening along with industrial activity.

Sources debated whether the thin market signaled a slow return from spring holidays or deeper problems in the economy.

The inactivity has led AMM to keep its Midwest spot aluminum premiums unchanged at 11.5 to 12 cents per pound, but limited tonnages were reported to have been transacted at premiums as low as 11.25 cents.

While most sources agreed that demand from the transportation sector, and particularly the automotive market, remained firm, some said that initial forecasts about automotive aluminum demand in 2013 might have been overblown.....

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