- 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...