Aluminum premiums fall on LME changes, bearish view

Sep 03, 2013 | 09:44 AM | Michael Cowden

Tags  Midwest premium, P1020, London Metal Exchange, LME, warehouse rules, contract negotiations, aluminum, Michael Cowden

CHICAGO — Midwest aluminum premiums dipped last week due primarily to proposed changes in London Metal Exchange warehousing regulations.

AMM’s spot P1020 aluminum premiums dropped to 10.5 to 11 cents per pound Aug. 28 from 11 to 11.25 cents previously.

Market sources generally said they expected the decline to continue, with some predicting that contract negotiations could be delayed until after the LME’s fall dinner in early October, after which the new rules are expected to be promulgated.....

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