GLOBAL ALUMINIUM WRAP: Rotterdam premiums supported by LME contango, firmer demand; Japan market softens

Aluminium premiums in the Dutch port of Rotterdam edged upward in the week ended Tuesday May 14 amid stronger demand and supportive spreads on the London Metal Exchange.

Elsewhere, the spot main Japanese ports (MJP) premium declined amid a lack of buying interest in a well-supplied market, while rates in the United States and Brazil were unchanged from a week ago.

Rotterdam market boosted by contangos in nearby LME spreads MJP premium down on lacking of buying interest US Midwest premium flat on stable fundamentals Spot activity lull keeps Brazilian market unchanged LME contangos push Rotterdam premiums higher Aluminium premiums in Rotterdam rose over the past week with nearby LME spreads in contango remaining supportive. The LME’s nearby cash/June spread was at $13 per tonne contango at the close of trading on May 14, while the cash/three-month spread widened to $31.25 per tonne contango from $28 per tonne a week ago. The duty-unpaid premium for P1020 in-warehouse Rotterdam narrowed upward by $5 per tonne to $85-90 per tonne on May 14 from $80-90 a week ago, according to Fastmarkets’ latest...

Published

Alice Mason

Karen Ng

Michael Roh

Hui Li

Renato Rostás

May 15, 2019

08:45 GMT

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