GLOBAL ALUMINIUM WRAP: European, Asian premiums tick higher; US, Brazilian numbers flat again

Aluminium premiums in Europe and Asia rose in the week to Tuesday December 5 with a wider contango in nearby London Metal Exchange spreads and the expectation of rising premiums for the first quarter of next year cited as the primary drivers.

  • Q1 MJP deal concluded at $103 per tonne, boosting regional spot numbers
  • Benchmark European premiums tick higher, wider LME spreads push up offers
  • US Midwest-delivered premium static for fourth consecutive week
  • Brazil numbers also flat with consumers well covered for the year

Japan, Korea aluminium premiums rise after settlement of first Q1 MJP deal

In Japan, a major end-user has concluded a deal for aluminium supply to main Japanese ports (MJP) in the first quarter of 2018 at a premium of $103 per tonne with a producer.
The deal was for a cargo of more than 3,000 tonnes for delivery in January-March next year, the end-user told Metal Bulletin. The $103-per-tonne premium represents a rise of 9% from the fourth-quarter premium which had settled at $94-95 per tonne.
Quarterly negotiations for MJP aluminium premiums kicked off last week between producers and end-users.

One producer had sent a letter to...

Published

Shivani Singh

Danielle Assalve

Kirk Maltais

Ian Walker

Vivian Teo

December 06, 2017

07:40 GMT

Singapore, São Paulo, London, New York