Midwest aluminum premiums drop
Feb 26, 2014 | 06:47 PM
| Michael Cowden
CHICAGO Midwest aluminum premiums have fallen again as market sources disagree on whether warmer temperatures might bring improved demand.
AMMs spot P1020 premium dropped to 19 to 19.50 cents per pound Feb. 26 from 20 to 20.25 cents per pound previously. The price dipped below 20 cents per pound for the first time since Jan. 15, but is still up from 11.50 to 12 cents per pound at the start of the year.
Spring generally sees better demand than winter, a trend that could be amplified in 2014 assuming some business has been pushed back because of extremely low temperatures and logistical snarls, some market sources said. But others warned it was premature to bank on expectations of pent-up demand, arguing that it remained to be seen whether the economy would emerge from the polar vortex on solid footing.
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