Ex-China aluminium market runs steadily as market awaits Q4 MJP settlement

This week, the overseas aluminium market was generally mediocre, with limited trading activity across major markets. In South Korea, purchases were mainly small-scale restocking, with little change in prices. In Thailand, demand remained weak, and some sellers slightly lowered their offers due to shipment pressure. The market focused on Q4 MJP quarterly pricing, with Rio Tinto's latest offer further reduced, and market expectations suggested there is still room for the final settlement price to move lower.

South Korea: Mediocre market, transactions mainly small-scale restocking

This week, trading in the South Korean market was very subdued, with purchasing demand limited to small-scale restocking and no concentrated procurement seen. Sellers showed moderate willingness to offer, with overall offer prices little changed. The market remained in a stable, wait-and-see state, lacking directional guidance.

Southeast Asia: Weak demand, some sellers lowered offers

Demand in the Southeast Asian market remained very weak, with downstream purchase willingness persistently low and relatively few offers in the market. Notably, due to shipment pressure on some sellers, offer prices were lowered to facilitate transactions, and the overall price centre edged slightly lower.

Japan: Q4 MJP offers further reduced, market awaits final settlement

This week, the Japanese market's focus was on the progress of Q4 MJP negotiations. Rio Tinto (RTA) further reduced its offer price for this quarter, from the previous level of USD 310 per tonne to USD 280 per tonne, with the offer valid until September 28. However, as of now, no further changes have emerged in the market, and buyers and sellers remain in a standoff.

The market generally expects the final Q4 MJP settlement price to be below USD 280 per tonne, with overall market sentiment cautious. All parties are waiting for the final Q4 MJP settlement to provide directional reference for subsequent pricing.

Note: This article has been shared by SMM and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.