NEWSBREAK: First Q2 MJP aluminium deal done at $129 premium [UPDATED]

The first deal for aluminium supply to main Japanese ports (MJP) in the second quarter of 2018 was concluded at a premium of $129 per tonne on Monday March 5, up 25% from the previous quarter's settlement, Metal Bulletin has learned.

The deal, for around 3,000 tonnes for delivery between April and June, was closed by an end-user and could be followed by more transactions below $130 per tonne after many Japanese buyers rejected initial premiums offers of $133-135 per tonne by overseas producers.

“[US President Donald] Trump has implied a 10% import tax will be imposed, hence the US Midwest premiums during the second quarter will increase. Other areas will also follow the increase. So it’s better that we settle as...

Published

Perrine Faye

Justin Yang

March 06, 2018

02:42 GMT

London

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