GLOBAL ALUMINIUM WRAP: South Korean premiums tick up, rates elsewhere flat

Most regional spot aluminium premiums were flat on Tuesday February 18 on steady fundamentals, though premiums in South Korea edged up on stronger demand and tighter supply in that country.

  • South Korean premiums rise on tighter supply.
  • European premiums supported by LME contango.
  • US Midwest premium flat amid federal holiday.

South Korean premiums up on spot supply tightness; MJP remains flat
In South Korea, Fastmarkets’ aluminium P1020A premium, cif South Korea and the aluminium P1020A premium, fca South Korea were both up by $5 per tonne week on week to $95-105 per tonne and $110-120 per tonne respectively on Tuesday.
On an fca basis, a spot trade for small tonnage was heard to have concluded in a range of $110-120 per tonne. Offers were heard at around $110-120 per tonne fca South Korea.
“South Korea has some specks of demand now and it is very hard to buy anything under $110 per tonne,” an Asia-based trader said.

“In terms of overall supply, there is still a bit of tightness and most end users are still taking a wait-and-see approach ahead...

Published

Justin Yang

Karen Ng

Michael Roh

February 19, 2020

04:26 GMT

New York, London, Singapore