Midwest aluminum premiums drop
Aug 22, 2013 | 03:58 PM
| Michael Cowden
CHICAGO Midwest aluminum premiums dropped this week as the summer doldrums, warehouse-policy uncertainty, and bearish sentiment about premiums and London Metal Exchange aluminum prices pushed consumers to hand-to-mouth buying.
AMMs spot premiums for P1020 dropped to 11 to 11.25 cents per pound Aug. 21 from 11.40 to 11.85 cents previously.
"With the LME uptick and discussions that premiums are angling downward, consumers are on the sidelines. ... If you think the LME and premiums are going down, then it behooves you to be conservative on your buy," one trader said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.