High P1020 premiums challenge auto: GM

Jan 14, 2014 | 03:34 PM | Michael Cowden

Tags  General Motors, Saber Haidous, aluminum, steel, aluminum premiums, aluminum prices, automotive, Michael Cowden

FORT LAUDERDALE, Fla. — Aluminum has a big role to play in the automotive market, but high and volatile regional premiums are creating challenges for the industry, a General Motors Co. executive said.

"I have not heard a convincing explanation about why premiums went so high. For God’s sake, it’s like the premium is the base price and the price of aluminum is the premium," Saber Haidous, Detroit-based GM’s global commodity manager of global purchasing and supply chain, said Jan. 14 at the Platts Aluminum Symposium in Fort Lauderdale, Fla.....

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