Midwest aluminum premiums narrow
May 17, 2013 | 02:55 PM
| Michael Cowden
CHICAGO Midwest aluminum premiums rose slightly this past week after discounts subsided in the wake of lower metals prices on the London Metal Exchange.
AMMs Midwest aluminum premium narrowed to 11.45 to 11.85 cents per pound May 16 from 11.2 to 11.85 cents previously.
One trader source, echoing other market participants, characterized the current market as sluggish, especially for a time of year that generally sees increased activity. But it could be a lack of liquidity that is helping to keep premiums up, he said.
"The Midwest (premium) feels like its under pressure ... and if you want to move big volumes, you are going to have to give the premium awaythats all there is too it," the trader said. "But you cant move (premiums) when there is no business."....
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