GLOBAL ALUMINIUM WRAP: Premiums mixed; Rotterdam up again

Aluminium premiums moved in different directions on Tuesday June 15, with Rotterdam premiums resuming their uptrend, the Japanese premium ticking downward from its multi-year high, and premiums in the US and Brazil steady.

  • Rotterdam duty-unpaid ticks up again
  • MJP premium declines on cheaper deals
  • US Midwest premium steady for two weeks
  • Brazil premium flat on thin liquidity.
European premiums strong despite backwardation
Aluminium premiums in Europe moved upward again in the week to Tuesday June 15, supported by continued strong demand.
Fastmarkets’ daily assessment of the aluminium P1020A premium, in-whs dup Rotterdam, was $200-210 per tonne on Tuesday, up by 1.23% from $200-205 per tonne on June 8.
Offers levels continued to rise for duty-unpaid material in Europe due to expensive replacement costs, resulting from high freight rates and high global premiums.
“Now your replacement costs are even higher, the offer is $215 per tonne minimum, if not $220 per tonne. There is not enough material available,” a trader said.
The latest deal reported for duty-unpaid material in Rotterdam was heard at $207 per tonne.

Market participants had received inquiries from consumers...

Published

Alice Mason

Renato Rostás

Michael Roh

Liz Ng

June 15, 2021

20:28 GMT

London, Singapore, New York, São Paulo