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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Aluminium physical premiums have risen in Q4 due to weakness following the announcement of proposed new LME rules in July, said Barclays Capital in a research note. According to Barclays, they believe downward pressure will be reasserted once the new rules kick in from May 2014, counteracting the...
Europe's aluminium premiums - or costs to get metal out of storage - are approaching record highs despite reforms aimed at stemming them, as persistent use of material for collateral in financing deals squeezes availability. Premiums had fallen to their lowest in a year late in September, before an...
A Japanese aluminum buyer and a global producer said Wednesday they have agreed to set the contract premium for the first quarter of 2014, at $255/mt plus London Metal Exchange cash, CIF Japan basis, up 3.8% from the current quarter. The deal was for over 500 mt/month shipments of standard primary...
While primary aluminium supply contracts have been warped by high premiums over the past two years, downstream aluminium product contracts are still more tied to their market’s fundamentals. Primary buyers have had to contend with new types of contract as premiums are now a much larger part of the...
Midwest aluminium premiums have increased as spot availability has tightened at the same time that wide spreads on the London Metal Exchange continue to support financing deals. Metal Bulletin sister title AMM’s spot P1020 aluminium premium increased to a range of 10.75 to 11 cents per pound on...
Buyers and sellers involved in the negotiations for Japanese aluminum import contracts for the first quarter of 2014 are moving closer in their premium ideas, sources said Wednesday. One Japanese trader said he had bid $249/mt plus London Metal Exchange cash CIF Japan to overseas producers who have...
Reuters reported that some big aluminum firms have offered Japanese buyers a premium of USD 255 per tonne to USD 256 per tonne for January to March shipments, below the offer from top producer United Company Rusal last week but still around a record high. Sources said that Japan is Asia's biggest...
Aluminium market sources are becoming more concerned that high freight costs and comparatively low premiums will keep metal away from Europe next year, leading to a shortage of aluminium on the continent. “Japanese premiums are at $240-250 [per tonne], the USA is at $220 and yet Europe is below...
Aluminum premiums in Japan probably will hold near record levels in the first quarter as Prime Minister Shinzo Abe continues economic stimulus and supply is disrupted, according to four executives who are scheduled to start price negotiations next week. Surcharges for the three months starting in...
Russia's United Company Rusal Plc , the world's biggest aluminium producer, said it had offered January-March shipments of the metal to Japanese buyers at a premium of $270 per tonne, seeking a record high. Japan is Asia's biggest importer of aluminium, and the premiums that it agrees to pay each...
Aluminium prices have not managed to hold on to the gains they made early on in the December quarter, and have fallen by 5.6% to $1,745 a tonne from the high seen in October. That fall, though not alarming, coincides with an uncertain time for metal prices as the London Metal Exchange (LME) is...
Regional aluminium premiums should gradually decrease to levels last seen 18 to 24 months ago – or even four to five years ago – due to the new London Metal Exchange warehouse policies, Philip Martens, Novelis chairman and ceo, said. “Over time, I think you will see a moderation of regional...
US regional aluminium premiums fell during most of the third quarter but have recently firmed and even increased slightly, Century Aluminum Co executives said. But the Chicago-based aluminium producer said uncertainty remained in premiums and warehouse stock forecasts given uncertainties around...
Emirates Aluminium (Emal) is ahead of schedule with the expansion of its production capacity to 1.3 million tonnes a year and expects to complete the project in mid-2014, the company's chief executive said on Wednesday. Emal's $4 billion project to boost capacity from about 800,000 tonnes a year...
Analysts at Goldman Sachs have argued that warehouse queues do not influence aluminium prices, rebutting complaints by users of the metal who have suggested the opposite. Long queues to take delivery of aluminium from London Metal Exchange warehouses have become the focus of a furious debate in...
Spot premiums for primary aluminum imported into Japan are not affected by Saudi Arabia's Ma'aden smelter closing one potline, but buyers expressed concern Wednesday that the contract premiums for the first quarter of 2014 may be impacted. On October 16, operator Alcoa said the 740,000 mt/year...
Investors are again locking up aluminium in warehouses as collateral for financing deals, driving up premiums consumers must pay to to obtain metal quickly, months after the London Metal Exchange proposed plans to free up backlogged metal. This month the premiums, the amount paid above LME prices...
Two of the world’s largest aluminum makers reaped an estimated $1.4 billion in revenues from higher fees amid a logjam at London Metal Exchange warehouses, according to an analysis by The Wall Street Journal. The two companies, Alcoa Inc. and United Co. Rusal, have emerged as some of the most vocal...
