Spot aluminum premiums hold steady

May 14, 2013 | 10:32 AM | Michael Cowden

Tags  Midwest premium, P1020, aluminum premium, aluminum prices, automotive, aerospace, building and construction, LME London Metal Exchange

CHICAGO — Midwest spot aluminum premiums have remained largely unchanged over the past week despite continued and considerable disagreement over the direction of the market.

While some market players insist that published premiums are lower than actual business transactions, others contend that reported premiums for P1020 are too high in a market characterized by discounting to published prices.

AMM’s Midwest premium is unchanged in a range of 11.2 to 11.85 cents per pound.

While overall physical demand for P1020 is "not great," one trader said premiums are higher than published reports due to continued strength in the automotive sector, attractive warehouse financing deals and tight scrap markets.....

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