Brazil's aluminum premiums get Midwest lift

Feb 04, 2014 | 02:10 PM | Carolina Guerra

Tags  aluminum, Brazil premium, Midwest premium, London Metal Exchange, LME, Carolina Guerra

SÃO PAULO — Average spot P1020 aluminum premiums in Brazil are at $600 per tonne, with market participants attributing the rise to higher U.S. Midwest premiums.

Local premiums, which were at a minimum of $500 per tonne in mid-January, are being driven by increased demand and falling domestic production. Historically, Brazilian premiums have followed movement in Midwest premiums.

AMM’s spot P1020 premium was at 20.75 to 21 cents per pound Jan. 30, up on the low end from 20.5 to 21 cents per pound Jan. 22 (, Jan. 30). Premiums were at 11.5 to 12 cents at the beginning of January.....

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