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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Over the last 5-6 years, aluminium LME prices have crashed from levels of US $3,000 per metric tons (MT) to the current rate of around $1,700-1,750 per MT. Due to this, the smelters were hard hit as the cost of production increased on one hand, and LME prices was declining on the other. As a...
European aluminium consumers are expected to pay record amounts to get hold of physical metal in the second half of 2014, as an improved economic backdrop triggers extra demand. Persistent appetite for financing deals and logjams in releasing aluminium from storage are also seen supporting the...
UC Rusal, a leading, global aluminium producer, announces its results for the three months ended 31 March 2014. Key highlights • In the first quarter of 2014 LME aluminium price continued its fall and reached the lowest record since the second quarter of 2009 of USD1,708 per tonne demonstrating a...
Aluminium settled down -0.14% at 106.20 dragged down by worse-than-expected US Q1 GDP and the US Fed’s continued QE3 tapering. Demand for aluminum is underpinned by an improving economy and tighter emissions regulations for automobiles. Last Friday, upbeat economic data reported from the US...
Brazilian aluminium premiums have posted a modest decrease over the past week, as sellers attempted to find buyers to its metal supplies amid concerns with a persistent slowdown of the country’s economy. Brazil's average premiums for the aluminium ingot P1020A (taking 100 tonnes as reference) in...
Aluminium premiums in China moved down to $355-370 per tonne this week, amid limited import interest, with traders eyeing carrying trade opportunities. The range fell lower than the premium of $370 per tonne in March, although trading was thin. "There have been almost no offers or bids recently, as...
Midwest aluminum premiums inched up over the past week, with market participants claiming that rising demand and limited domestic supply will continue to support current premium levels in the near term. AMM's spot P1020 premium edged up to 18.25 to 18.75 cents per pound on April 18, from 18.25 to...
China Aluminum exports reached the highest level since the last 2 years in the last month as traders got very high returns amidst a record premium while shipping the metal overseas. Unwrought aluminum exports and aluminum products were 370,000 mt tons in the month of March, according to customs...
Garry Jones, the Chief Executive Officer of London Metal Exchange, said the company plans to introduce a new aluminum premium contract possibly by the end of 2014. The size of the contract will be 25 mt tons and will also have a swap of warrants or the bearer documents for a particular type of the...
The London Metal Exchange may not launch its new aluminium premium contract until early next year, the exchange's top executive said on Monday, months after a competing product from U.S. rival CME Group Inc is expected to go live. The distant date for the new LME contract will stir the debate over...
Novelis Inc. President and Chief Executive Officer Phil Martens issued the following statement today in response to Thursday's ruling by the UK High Court regarding planned changes to aluminum warehousing rules by the London Metal Exchange (LME): "We are very disappointed with the outcome of the...
CME has found the perfect setting in CRU aluminium conference to launch its North American aluminium contract which intends to solve the hedging issues created by rising physical aluminium premiums. It was the main focus of discussion in the CRU conference. According to Barclays, who attended the...
Midwest aluminium premiums dropped again this week as market sources fretted about increased import volumes and the potentially chilling impact of a cold winter on demand. Metal Bulletin sister title AMM's spot P1020 premium slipped to 18.75 to 19 cents per lb on March 5 from 19 to 19.5 cents...
The monthly Aluminum MMI® registered a value of 89 in March, on par with February’s value. The 3-month LME price closed the month of February at $1,765 per metric ton; a small bounce from the record lows registered at the beginning of the month. Most analysts are optimistic with the future role of...
Physical prices of European Aluminium will stay high this year as financing deals squeeze the aluminium availability on the spot market, Rusal Deputy Chief Executive Oleg Mukhamedshin said on Thursday. In an interview, Mukhamedshin told Reuters that aluminium premium CIF Europe which reflects...
Reuters reported that China's users of primary aluminium are set to cut imports of spot metal in the April-June quarter as they don't want to pay the record premiums demanded by sellers and may instead use more domestically sourced metal whose prices have fallen. A drop in imports by users in the...
Europe aluminium premium recorded high in February, a rise of 30 % from 2014 beginning, and have stayed at high levels of approximately $360 a tonne above cash aluminium price at LME. Still, the prices are quite low in North America, where the aluminium premiums in Midwest rose to 20.5 cents per lb...
Svein Richard Brandtzaeg , Chief executive of Norsk Hydro, said to Reuters that aluminium’s overall price, including delivery premium paid to producers, is expected to rise in the year 2014 as demand of the metal growth outpaces production. "Demand will exceed production, so there is reason to...
