European P1020 premiums tick up, continue to trade within their long-term equilibrium levels

Rotterdam premiums have continued to hover within their long-term equilibrium ranges as support provided by wide contangos has been building up for the past two months. As a result, HARBOR’s European in-warehouse Rotterdam P1020 ingot duty-paid spot transaction premium slightly increased on the high end to $130–$143 per mton from a previous $130–$140 per mton, and HARBOR’s European in-warehouse Rotterdam P1020 ingot duty-unpaid spot transaction premium also ticked up today on the high end to a four-month high of $70–$85 per mton.

More details in full report.