Futures and Commodity Market News
Some Japan 4th-Quarter Aluminum Premiums Settled At $118/Ton -Trader
Edited by : AL CIRCLE
1 min read
Some suppliers have concluded fourth-quarter aluminum contracts with Japanese consumers at a premium of $118 a metric ton on a cost, insurance and freight basis, a Tokyo-based trader said Friday.
Suppliers and consumers have agreed on contracts for around 40% of total fourth-quarter volumes at that level, which is slightly narrower than the third-quarter premium of $120-121/ton and in line with expectations.
The fourth-quarter talks will likely conclude next week, with traders pegging a final settlement at $118-120/ton.
Market participants are expecting strong Japanese demand in the final three months of the year, but concerns over the health of the country's export markets in the major Western economies are weighing on the market and pressuring premiums, traders have said recently.
Suppliers and consumers have agreed on contracts for around 40% of total fourth-quarter volumes at that level, which is slightly narrower than the third-quarter premium of $120-121/ton and in line with expectations.
The fourth-quarter talks will likely conclude next week, with traders pegging a final settlement at $118-120/ton.
Market participants are expecting strong Japanese demand in the final three months of the year, but concerns over the health of the country's export markets in the major Western economies are weighing on the market and pressuring premiums, traders have said recently.
Previous article
SMM Morning Review - 2011/9/2 Aluminum Market
Next articleNalco gains on buzz of hiking aluminium prices
Grow with
AL Circle
