CME Group’s AUP Midwest aluminum premium forward curve through 2021 strengthened in the week ended Monday, as physical contracts for 2020 have started to conclude and spot premiums have started to rise. The swap futures contracts trade on CME Globex and CME Clearport, and settle on a monthly basis, based on the Platts US Aluminum Transaction premium. The October monthly average sits at 18 cents/lb on Monday “The market is still well below replacement cost,” one trader said. November settled at 17.80 cents/lb, up 0.25 cent/lb from last week, with 15 lots trading outright at that level.
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