Midwest spot aluminum premiums slip

Apr 18, 2013 | 04:33 PM | Michael Cowden

Tags  Midwest premium, P1020, P1535, LME, London Metal Exchange, aluminum prices, aluminum premiums, discounting aluminum scrap

CHICAGO — Midwest spot aluminum premiums have dipped over the past week amid concerns about the global economy, the state of the commodity markets and the possibility of a decline in P1020 demand.

Still, some market sources insist that they have not seen or been offered any discounts, arguing that scrap showed no signs of loosening and premiums showed no indication of falling.

AMM’s Midwest premiums have dropped to a range of 11.2 to 11.85 cents per pound from 11.5 to 12 cents previously, with some market sources reporting big-volume deals at even lower figures.

"Some people are saying 11.8 to 12 cents, but I am not seeing those sales," one trader said. "We are holding. ... But if we’re losing business at 11.45 cents, then someone is selling cheaper."....

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