Japan spot aluminium premium jumps 11% on supply concerns

The spot cif main Japanese ports (MJP) aluminum premium jumped around 11% at the end of last week after market participants raised offers and price indications due to supply concerns stemming from the sanctions placed on Russian aluminium producer UC Rusal.

Metal Bulletin assessed the spot cif MJP premium at $120-140 per tonne on Friday April 13, up $10-15 per tonne or around 11% from an assessed price of $110-125 per tonne on April 10. The premium last reached $140 per tonne in June 2015. Offers were in a range of $150-200 per tonne, though no deals have taken place at this level yet. Some buyers had also increased their acceptable price ranges, with one consumer looking to buy at $130-140 per tonne. “We received offers from a trader at $150-160 per tonne cif but we don’t think it is a fair number. We think $130-140 cif is fairer and will buy...

Published

Vivian Teo

April 16, 2018

05:13 GMT

Singapore