US primary aluminum premiums remained unchanged on Monday, on growing concerns over the long-term impact of the coronavirus pandemic and plentiful supply of the material in North America.

 

The Davis Index premium for P1020a delivered US Midwest remained at 13.8¢/lb under the three-month LME aluminum contract, while the premium for 6063 billet was flat at 7¢/lb delivered under the same LME aluminum contract.

 

The premiums for both P1020a and 6063 have remained unchanged for four straight weeks. However, fears of a global economic slowdown could increase premiums if supply is impacted because of smelter shutdowns due to quarantines in regions affected by the pandemic.

 

The three-month official LME price for aluminum decreased to $1,699/mt on Monday, from $1,711/mt a week ago.

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