US aluminum premium futures hold support levels

摘要

CME Group’s AUP Midwest aluminum premium forward curve for Q3 2020 found support June 1 at around the 10 cents/ lb level and Q4 2020 through Calendar 2022 holds above the 11 cents/lb level as market sentiment started to turn more positive. Some aluminum rolling mills tied to automotive have canceled tonnage for May and pushed into June, while others have been taking contract minimums in response to shutdowns caused by the coronavirus pandemic. The futures contracts trade on CME Globex and CME Clearport and settle on a monthly basis, based on the Platts US Aluminum Transaction premium.