Global aluminium producers eyeing Q2 premiums at $145-$155/ tonne, industry sources

AL Circle

Aluminium producers worldwide have proposed premiums to Japanese buyers ranging from $145 to $155 per tonne for primary metal shipments from April to June, marking a substantial increase of 61 per cent to 72 per cent compared to the current quarter. This information was disclosed by three sources intimately engaged in the quarterly pricing negotiations on February 29, 2024.

Global aluminium producers eyeing Q2 premiums at $145-$155/T

{alcircleadd}

As a significant importer of aluminium in Asia, Japan's agreed premiums for quarterly primary metal shipments over the London Metal Exchange (LME) cash price serve as the standard for the region.

During the January-March quarter, Japanese buyers consented to a $90 per ton premium (PREM-ALUM-JP), marking a 7 per cent decrease from the previous quarter.

This significant reduction coincides with a tightening of supply in Asia due to heightened imports from China despite sluggish local demand in Japan, according to a producer source.

According to a source, delivery supplies for Q2 are commanding a premium of $120 to $130 in other Asian markets, while the spot premium in Japan is experiencing a significant uptick, with recent transactions surpassing $130.

Due to limited supply, Japanese purchasers anticipate a price rise in the upcoming quarter. However, according to another source from an end-user, they consider the proposed increase to be excessively high. The source mentioned that their company is aiming for $115 per tonne. Additionally, a third source from a trading company predicts that the settlement price will likely fall within $120 to $140 per tonne.

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals

Alternate Text
CETAG

A supplier of proven systems and an expert adviser in aluminum casthouse technology, offering its services worldwide to the aluminum industry.

Alternate Text
IBAAS​-IIM 2024

September 25-27, 2024 | BITS Pilani K K Birla Goa Campus, Goa, INDIA

Related
Business Leads
Interested to buy aluminium ingot 97%. Purity : 97& Destin...
04-Apr-2024 Buying request

Interested to buy aluminium ingot A7 with above mentioned co...
04-Apr-2024 Buying request

We are looking for Aluminum ingot A7. The first order would ...
03-Apr-2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads