Europe | Primary Aluminum: Premiums Rise on Tight Supply and Geopolitical Risk

Rotterdam duty-paid P1020A premiums increased to $510–530 per tonne from $490–520 one week earlier.
Middle Eastern supply interruptions and uncertainty surrounding the Strait of Hormuz reduced near-term availability.
Higher oil, natural-gas, freight and insurance costs added further support to European premiums.
LME aluminium inventories stood at approximately 243,600 tonnes, close to their lowest level since 1990.
Low inventories and expected winter restocking could maintain upward pressure on physical premiums into the first quarter.