Platts
European aluminium premiums increase on positive market sentiment
Edited by : AL CIRCLE
1 min read
The European physical aluminium market has continued to see more optimistic sentiment develop on the back of tighter supply for some grades and increased spot business.
"It's moving up," one European trader said. "Everyone is offering higher. It's the closure of plants and the lack of good-quality material in the market. Even producers are looking for material."
A consumer agreed, saying premiums were higher this week but that he was seeing hesitation from some buyers. "I think the higher premiums see buyers more cautious, there is no rush to buy," he said.
A producer source noted that the production cuts were now having an impact on premiums but that some end-users were still carrying stocks from the end of last year.
"I'm looking towards the end of March," he said. "We shall see how it shapes up in the next quarter."
"It's moving up," one European trader said. "Everyone is offering higher. It's the closure of plants and the lack of good-quality material in the market. Even producers are looking for material."
A consumer agreed, saying premiums were higher this week but that he was seeing hesitation from some buyers. "I think the higher premiums see buyers more cautious, there is no rush to buy," he said.
A producer source noted that the production cuts were now having an impact on premiums but that some end-users were still carrying stocks from the end of last year.
"I'm looking towards the end of March," he said. "We shall see how it shapes up in the next quarter."
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