CME Group’s AUP Midwest aluminum premium futures curve extended it drop during the week ending Sept. 28, as the spot premium dropped to 12.95 cents/lb on lower open offers and bids. Some traders, however, still see the market higher on replacement costs as the quotas on Canadian aluminum are not as bearish as many think if consumer demand was to pick up in 2021. Also, it will not be easy for Canadian producers to coordinate its exports of unalloyed aluminum under 7601.10 to the US.
展开▼
