Europe Al: Premiums stable after Us spike

摘要

European aluminium ingot premiums were flat again over the past week on a lack of trading activity, after US premi- ums spiked by almost a quarter a week ago in response to the Trump Administration re-imposing Section 232 tariffs on Canadian primary metal. The Argus weekly P1020 in-warehouse Rotterdam duty- paid premium assessment was unchanged at $115-140/t this week, while duty-unpaid premiums were flat at $85-95/t. Strong forward contangoes on the London Metal Exchange (LME) continue to dissuade stockholders from seeking sales, while demand remains low amid the Covid-19 pandemic and the traditionally slow summer period.