US Midwest aluminium premium logs record jump on Section 232 news

August 08, 2020 / www.metalbulletin.com / Article Link

The Midwest aluminium premium soared by 5 cents on Friday August 7, logging its largest increase since Fastmarkets began assessing this premium in January 2003, with traders boosting offers on replacement cost considerations after the US reintroduced Section 232 tariffs on Canadian aluminium.

Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 16-17 cents per lb on August 7, up by 5 cents (43.5%) from 11-12 cents per lb previously.
The premium is now at its highest since mid-November 2019.

"It's unprecedented. I've never seen it move so quickly," one trader source said of the jump. "I think the premium's going through the roof. It could get stupid really quick until replacement units come in and it settles...

Recent News

Gold stocks decline as metal drop offsets equity risk on

May 06, 2024 / www.canadianminingreport.com

Canadian mining equity capital raising robust in 2023, early 2024

May 06, 2024 / www.canadianminingreport.com

Gold stocks gain even as metal price pulls back

April 29, 2024 / www.canadianminingreport.com

Copper price forecast swinging significantly on shifting outlook

April 29, 2024 / www.canadianminingreport.com

Upgrades continue for 2024 gold price target...

April 22, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok