GLOBAL ALUMINIUM WRAP: Brazil premiums tick up; premiums elsewhere flat

Aluminium premiums were stable in most regions on Tuesday July 14, but premiums rose in Brazil with some market participants in the country noting signs of demand recovery, while others suggested the increase could be short-lived.

Brazil premiums up on stronger spot interestRotterdam premiums hold in quiet conditionsUnited States premium steady, while uncertainty stifles tradingSpot inactivity keeps MJP, Korea premiums flat
Brazilian premiums up on recovery signs
Aluminium import premiums moved higher in Brazil with discounted offers no longer available for clients and most sellers seeing a broader uptrend on the contango on the London Metal Exchange.
Fastmarkets assessed the aluminium P1020A premium, cif dup Brazilian main ports at $150-160 per tonne on Tuesday, up by $10 from $140-150 per tonne on June 30.
Sellers were aiming for $160-per-tonne deals, but most offers were presented to customers at $150-155 per tonne. Previously reported premiums at $140-145 per tonne were no longer available this week.

"On top of a somewhat global uptrend, with offers of Rotterdam duty-unpaid material close to $100 per tonne, for example, I believe Brazilian demand is growing," one trader source...

Gold stocks gain even as metal price pulls back

Copper price forecast swinging significantly on shifting outlook

Upgrades continue for 2024 gold price target...

Gold stocks edge up as weak equities offset metal rise

Major investment banks make major gold price upgrades