Rio Tinto offers Q4 MJP aluminium at $420/t

Rio Tinto has offered aluminium to Japanese buyers for fourth quarter delivery at premiums 3-5% higher than current-quarter levels but $40 lower than UC Rusal’s indicative offer, market participants involved in the talks told Metal Bulletin.

The producer cited tight markets and higher premiums in the USA and Europe for the offer of $420 per tonne cif, a source who received the letter said. It’s a weaker Asian market except Japan, he said, adding that certain producers had a geographical advantage in selling to Asian and western markets. Third quarter premiums had settled at $400-408 per tonne....


Shivani Singh

Deepali Sharma

August 27, 2014

08:14 GMT