Major aluminium producers have offered Japanese buyers premiums of USD 310-325 per tonne for primary aluminium shipments in the October-December quarter. The bar is 18-22 per cent lower than the USD 395 per tonne premium agreed for the current July-September quarter. The premium paid by Japanese...
Canada will raise tariffs on US steel and aluminium to 50 per cent from September 8 as part of a CAD 27.6 billion (USD 19.88 billion) retaliatory package, while Ottawa introduces CAD 7.5 billion (USD 5.4 billion) in support for workers and businesses affected by the trade dispute. Canada will...
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The coming year’s quarterly prices negotiations between the Japanese aluminium buyers and the global aluminium miners have not yet reached a final premium price for the January-March shipments as the buyers are refusing to pay high rates. The discussions are expected to continue till the next month...
Global aluminium premiums are expected to reach fresh record highs by mid-2015 on a supply deficit in the United States and Europe, a Reuters survey showed. Premiums have surged this year, more than doubling in the United States, as a revival in auto demand spurred aluminium consumption, while...
The premiums have gone up considerably as there are reports suggesting two top aluminium producers are demanding record premiums of $435-$440 per tonne for deliveries due in January-March, which is 4.8 percent higher than the previous quarter, said two sources involved in the quarterly pricing...
The increased demand in the cars and construction sectors is putting pressure on the aluminium market which is already showing stress as supply constricts. Since traders are paying high LME prices, close to the two-year peak amounts, as well as high premiums, they are leaning towards hoarding in...
China imported 5,756 mt of primary aluminum in October, plunging 88.44% YoY, but up 7.41% MoM. YTD imports through October totaled 260,900 mt, up 1.46% from a year ago, customs data showed. Chinese processors and traders usually avoid importing in bulk due to the 17% VAT imposed on imported primary...
LME officials saw a flat week, with cash prices hovering about $2,025/metric ton. The promise of additional policy support that helped rally prices over the past five weeks (September’s European Central Bank interest rate cut and October’s Bank of Japan QE announcement) has collided with fresh...
As the world aluminium supply continues to tighten, the premiums on the metal continue to rise. Analysts and industry experts believe these premiums will continue to stay on a high, at least for the next two years which is good news for India’s aluminium producers like Hindalco and NALCO. Premiums...
The LME stock prices of aluminium for Midwest delivery, has risen from 20 cents per pound to 22.5 cents per pound which is a double hike. This amount is payable both by the fabricators as well as the aluminium merchants. The rise in price will raise many questions about the domestic availability as...
By revenue, Rexam Plc is the second-largest beverage can maker in the world but the rising aluminium premiums and high energy costs in Brazil are pushing the company to contemplate raising the price for their customers. On Thursday, Rexam came out as one of the biggest losers in the FTSE-250 Midcap...
U.S. aluminum surcharges have jumped to record levels this month as fabricators scramble for metal amid cutbacks at domestic smelters and storage backlogs that traders say have tightened supplies. Premiums that fabricators and merchants pay on top of benchmark London Metal Exchange prices for...
The London Metal Exchange (LME) on Friday launched consultations on proposed changes to rules governing physical delivery and its global network of storage warehouses. The LME, which recently won a major court battle about new rules to cut delivery backlogs at warehouses, plans even tougher rules...
A courtroom victory allowing the London Metal Exchange to ease backlogs of deliveries of aluminum may do little to reduce the cost of the metal used in everything from beer cans to auto parts. While yesterday’s appeal court ruling in London clears the way for the LME to impose new rules at its...
Due to the record high spot market premiums on rising demand and supply cutback aluminium supply contracts for European consumers are expected to double up next year. Aluminium premiums which is paid over the LME aluminium cash prices, have climbed up to a record high of $460-480 per tonne in...
London Metal Exchange (LME) has announced on Thursday that they will be releasing their aluminium premium contract later than initially planned in the second quarter, according to Reuter’s report. They also said that they will refrain from any other reforms until they receive the court ruling. The...
Japan aluminium buyers agreed to pay premiums of $420 a metric ton in the next quarter as confirmed by the buyers and seller representatives in Japan. That is a record rise from the range of $400 to $408 a ton in the present quarter and a record high for the fourth consecutive time. Japanese buyers...
China imported 14,100 mt of primary aluminum in July, down 31.32% YoY and 4.08% MoM, according to China Customs. The SHFE/LME aluminum price ratio kept falling and dropped below 7.0 at the end of July, adding to import costs. In addition, aluminum premiums overseas are rising steadily, also...
According to Reuter reports, four sources revealed on Tuesday, Rio Tinto is charging a record premium of $420 per tonne from its Japanese buyers for October-December primary metal shipments, which is 3-5 percent higher than the last quarter. Being the biggest importer of the metal, the premium that...
The aluminium market is perking up, with the average price per tonne on the London Metal Exchange rising to over $2,000 now from $1,693 in February 2014. While the primary reason for this is high physical delivery premium, the supply-demand dynamics are also brightening. This is due to a long...
