European aluminum premiums chasing US
Jan 10, 2014 | 01:26 PM
| Jethro Wookey
LONDON European aluminum premiums are nearing record highs due to a lack of availability and pressure from a spike in U.S. premiums that have already broken records this past week.
AMM sister publication Metal Bulletins European duty-unpaid premium rose to a range of $220 to $240 per tonne from $210 to $230 previously, while duty-paid premiums increased to $280 to $300 per tonne from $270 to $290 per tonne.
Metal Bulletins record highs for premiums are $235 for unpaid metal in September 2012 and $305 for paid material exactly one year ago.
Market participants warned that Europe could struggle to attract enough imports to satisfy growing demand from industry in 2014 due to lower premiums in Asia and the United States. That issue came into sharper focus after U.S. Midwest aluminum premiums reached 15 to 16.5 cents per pound Jan. 8 (amm.com, Jan. 8).....
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