Europe Al: Premiums dip as viral fears hit LME

摘要

European aluminium premiums started to fall over the past week as the uncertainty surrounding the coronavirus outbreak saw forward spreads on the London Metal Exchange contract and prices fall, but industrial operations have remained robust across Europe even as public events have been cancelled in several European jurisdictions. Argus assessed the weekly duty-paid in-warehouse Rotter dam premium at $145-155/t today, from $150-155/t previously, while duty-unpaid premiums fell to $95-105/t from $100-110/t. Premiums held firm for much of the past week as trading operations have continued even in the more affected areas, such as Italy. But lower premiums have been reported in the last two days as LME prices have fallen back and forward spreads have narrowed.