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Aluminum premiums’ gain seen driven by surging withdrawal orders

Posted on 24 October 2013

Premiums added to aluminum prices in the U.S. and Europe rose amid surging orders to remove the lightweight metal from warehouses monitored by the London Metal Exchange, Harbor Intelligence said.
The surcharge reached 9 to 9.8 cents a pound in the U.S. Midwest, against 8.5 to 9.5 cents two weeks ago, according to the Austin, Texas-based researcher. The European premium rose to $190 to $200 a metric ton from $150 to $170, it said. Waiting times for withdrawals lengthened at the two biggest global repositories as bookings soared, according to Harbor………………………………………..Full Article: Source


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