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Aluminum Monthly Metals Index: Prices almost reach decade high
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Aluminum MMI: Aluminum prices remain historically high
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The
Aluminum Monthly Metals Index (MMI) jumped 7.7% for this month’s reading, as the aluminum physical delivery premium continues to rise.
Delivery premium continues to rise
Olegs/Adobe Stock
The US Midwest Premium, like just about everything else these days, continued to inch upward in recent weeks.
After falling to $0.12 per pound in early February, the premium has more than doubled since then. The Midwest Premium hit $0.26 per pound ($573 per metric ton) to close last week.
As MetalMiner’s Stuart Burns noted previously, rising delivery premiums are an indicator of market tightness.
“China’s pull on the rest of the world’s aluminium supply does not appear to be abating,” Burns explained last month.
Aluminum premiums remain elevated as supply remains tight
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