Brazil aluminium import premium under pressure; discounts emerge from sinking demand

Market illiquidity in Brazil and a recent downtrend in Rotterdam premium levels led traders to consider heavily discounted import offers of aluminium ingots in the past week, according to sources.

The Rotterdam aluminium premium has been falling since mid-March, when the Covid-19 case toll started growing fast. The premium has since stabilized at a year-to-date low but has yet to recover.
Fastmarkets assessed the daily aluminium P1020A premium, in-whs dup Rotterdam at $75-85 per tonne on April 27, stable since April 14 but down from year-to-date high of $105-113 per tonne reached on February 26.

Despite the rapid decrease in import premiums presented to customers, however, no deal has been reported in...

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