The Platts South Korean aluminum spot premium weekly assessment rose Wednesday to $100-$105/mt plus London Metal Exchange cash, CIF Busan, from $95- $105/mt on March 13 The Platts assessment has climbed $27.50/mt over the last month, with sources attributing the upswing to a draw in local warehouse stocks. A narrow spread between LME and SHFE aluminum prices has also dampened China’s interest in exports of coil and other semi-finished products, sources said. Consequently, there is no pressure on stockholders to discount prices, market participants said.
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