Europeans concede aluminum premiums unlikely to decline

Dec 13, 2013 | 03:56 PM | Jethro Wookey

Tags  aluminum premiums, London Metal Exchange, LME, Jethro Wookey

LONDON — European aluminum consumers have acknowledged that premiums are unlikely to fall significantly following the implementation of the London Metal Exchange’s new warehouse load-out rates in April, but they have not tried to book material further ahead in 2014.

"We’ve bought our first-quarter volumes for next year, but we still have some volume open in March," one consumer source said, adding that he had not changed his buying strategy even as his views on premiums have changed. "A couple of weeks ago I would have said I expected a reduction in premiums after the first half and into the third quarter. But now, after reading reports and speaking to people, it seems demand will be very strong and the market will be tight."....

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