GLOBAL ALUMINIUM WRAP: Premiums stay generally unmoved worldwide; South Korean numbers buck trend

Global aluminium premiums generally stayed firm in the week to Tuesday December 12, with only the South Korean premiums showing any kind of movement thanks to main Japanese ports (MJP) deals for the first quarter being made at higher levels than the previous quarter.

  • Multiple deals reported around $103 per tonne for Q1 MJP, causing movement in South Korea
  • Benchmark European premiums stayed flat, thanks to a widening contango allowing for metal to be held
  • US Midwest stayed flat for the fifth week in a row, although news around trade investigations could boost that premium
  • Brazil’s numbers were also quiet, due to thin spot activity

Asian premiums stay largely unmoved, South Korea premium moves based on MJP

In Japan, the spot cif MJP aluminium premium was unchanged at $90-105 per tonne on Tuesday amid quiet market conditions with focus on quarterly deals.
The benchmark first-quarter MJP aluminium premium is close to settling, following deals for volumes of over 29,000 tonnes of aluminium for January-March shipment at a premium of $103 per tonne reported to Metal Bulletin in December.

These first-quarter deals include those done between one major consumer and three producers, and...

Published

Shivani Singh

Danielle Assalve

Kirk Maltais

Ian Walker

Vivian Teo

December 13, 2017

03:45 GMT

Singapore, São Paulo, London, New York