Japan, South Korean premiums edge higher
- 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
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...