September 2016 | Aluminium Weekly Market Tracker
Primary and Secondary Fundamental
Analysis of consumption and production of primary aluminium, and an analysis of the market drivers of secondary aluminium and aluminium scrap
Demand AnalysisAmple supply keeps contract negotiations at bay We may be in the early weeks of annul contract negotiating period, but there is little rush from consumers toward settling of longer terms deals. In the US in particular, weakness in the Midwest premium has been acting as a deterrent for consumers to sign off on final contract terms. After all, with Midwest premiums grinding along the floor at just 5.75-6.25¢/lb, albeit up by 0.25¢/lb from earlier this month, there is little sense of pressure in the market. Premiums down on year ago levels If we roll back 12 months, premiums were 1-2¢/lb higher than at presence, but there was a clear rush to finalise deals by this time, with US consumers still licking their wounds from previous mating seasons when premiums got the better of them. But this time around, despite the extensive closure of US smelting capacity, which we had...
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