GLOBAL ALUMINIUM WRAP: MJP edges up, Rotterdam premiums consolidate

Aluminium premiums in Asia edged higher in the week ended Tuesday September 28, with the global market focused on fourth quarter and 2022 negotiations.

  • Premiums across Asia rise amid ongoing fourth-quarter negotiations 
  • European premiums stabilize ahead of London Metal Exchange Week
  • US Midwest premiums flat with eyes on Kitimat 
Japan, South Korean premiums edge higher
Fastmarkets assessed the aluminium P1020A main Japanese ports (MJP) spot premium, cif Japan at $185-200 per tonne on Tuesday, up from $180-190 per tonne a week earlier.
Higher assessments of the spot market were fueled by fourth quarter MJP deals which have concluded at $215-220 per tonne.
A spot deal for small tonnage was also heard at around $200 per tonne.
The market continues to buy small tonnages on a needs-basis, with participants unwilling to take larger positions before the conclusion of fourth quarter MJP negotiations.
Fewer spot deals emerged because market sources expect automotive production curbs to extend until at least the first quarter of next year.

Meanwhile, negotiations continue and the market remains divided...

Published

Thorsten Schier

Justin Yang

Alice Mason

Liz Ng

September 28, 2021

17:48 GMT

London, Singapore, New York