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Aluminum delivery premium continues to rise (to the chagrin of buyers)

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.

China aluminum sector could get price support from latest five-year plan

The Aluminum Monthly Metals Index (MMI) picked up 6.3% for this month’s reading, as the China aluminum sector could get a price boost from the 14th Five-Year Plan. Furthermore, the Department of Commerce made anti-dumping and countervailing duty determinations on aluminum sheet. Don’t miss the MetalMiner analyst team on March 24 at 10 a.m. CDT for a 30-minute metals market forecast and strategies to deploy in falling markets: https://zoom.us/webinar/register/WN 6J8wAyYySfihVk3ZUH9yMA. China’s 14th Five-Year Plan By virtue of its having the largest aluminum and steel sectors in the world, China also faces a massive pollution problem.

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