09 OCTOBER 2012Platts
European aluminium market affected by Rusal's tender
Edited by : AL CIRCLE
2 min read
The European physical aluminium market remained quiet with market participants spending much of the week debating the premium level at which a Rusal tender for 3,000 mt of primary metal was concluded.
"There's not a lot of business, that's the reality," one trader said.
He added that he had not taken part in the recent Rusal tender but said that he expected the price would have been concluded around the current spot market premium level.
A consumer said that he had entered a bid for the Rusal tender but was informed that he had not been successful.
"We were bidding but with no success. They are still deciding whether they are going to publish the winning price," the consumer said.
A second trader said that he had bid for the material but had also not been successful.
"My understanding is that it went for around $215/mt," he said.
According to Rusal's website, the company accepted bids for 3,000 mt of 99.7% primary metal via an online tender for October delivery in Rotterdam.
Platts understands that Rusal reserves the right to publicly announce the winner's price/premium.
The deadline for bids was August 29 but so far Rusal has not declared the premium level achieved via the online tender.
Rusal declined to comment when contacted by Platts.
"There's not a lot of business, that's the reality," one trader said.
He added that he had not taken part in the recent Rusal tender but said that he expected the price would have been concluded around the current spot market premium level.
A consumer said that he had entered a bid for the Rusal tender but was informed that he had not been successful.
"We were bidding but with no success. They are still deciding whether they are going to publish the winning price," the consumer said.
A second trader said that he had bid for the material but had also not been successful.
"My understanding is that it went for around $215/mt," he said.
According to Rusal's website, the company accepted bids for 3,000 mt of 99.7% primary metal via an online tender for October delivery in Rotterdam.
Platts understands that Rusal reserves the right to publicly announce the winner's price/premium.
The deadline for bids was August 29 but so far Rusal has not declared the premium level achieved via the online tender.
Rusal declined to comment when contacted by Platts.
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