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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Asian aluminium premiums have been steady ahead of the LME warehousing rule change and with contract talks for 2014 still to start. “[The market is] still very quiet. We are supposed to start talks for next year’s contracts but it’s an uncertain situation because of the [impending changes to] LME...
One of the world’s largest aluminium producers has attacked the London Metal Exchange as “short-sighted and misguided” and called on regulators to intervene in a row about metals warehousing. In a letter sent to the UK Financial Conduct Authority and the US Commodity Futures Trading Commission on...
Aluminium premiums negotiated in Brazil are following a different trend from other parts of the world as local sector fears a material shortage after production curtail announcements and increasing demand, Metal Bulletin understands. Premiums for aluminium ingot in Brazil are trading at $450-500...
Aluminium remelters that have curtailed capacity due to razor-thin margins are on the brink of bringing that capacity back into operation, and whether they do so will have a strong impact on aluminium supply and premiums next year. “When we analyse the supply side, we see significant remelting...
Aluminium producer says the exchange's 'irresponsible' move to overhaul warehousing has led to confusion and a drop in premiums. Global aluminium premiums have fallen because of "confusion" over the London Metal Exchange's proposal to overhaul its warehousing policy, Alcoa chief financial officer...
The London Metal Exchange’s plan to ease congestion at warehouses storing near-record amounts of aluminum will accelerate deliveries and reduce premiums paid for supply, at a time when prices are already near a four-year low. European premiums excluding duty will drop as much as 15 percent to $145...
Trade activities for Japanese aluminum spot imports were thin Monday as Japanese market participants shifted their focus to domestic trade after having concluded their fourth-quarter contract premiums negotiations last week, sources said. In the absence of spot deals, bids or offers reported from...
Russia's United Company Rusal , the world's biggest producer of aluminium, wants to fix the price for some of its aluminium supply contracts for next year, the company's marketing chief executive said on Thursday. Rusal last year broke with tradition to switch term supply deals for 2013 to a...
Japanese aluminium buyers will mostly pay slightly lower premiums of $245-$247 per tonne over London Metal Exchange (LME) prices for October-December shipments after talks with producers of the metal, sources involved in the negotiations said. The softer premiums, down from around $250 in the...
The world's top aluminium producers and consumers are at loggerheads over the thorny issue of what price, or premium, should be paid to secure metal deliveries, and will conclude fewer fixed term supply deals this year, industry sources said. Producers Rusal , Alcoa and Rio Tinto are descending on...
Their low costs notwithstanding, Indian aluminium makers are treading on thin ice of profitability. Aluminium is trading at a four-year low on the London Metal Exchange (LME). At these prices, large swathes of global aluminium capacity are not recovering cash costs. If the industry here has managed...
Some Main Japan ports (MJP) aluminium premium deals for delivery in the fourth quarter have settled at $245-247 per tonne while buyers and sellers are hoping to close negotiations at Metal Bulletin’s aluminiun conference in Geneva this week. A trader in Japan said “we haven’t fixed anything yet but...
In October, the London Metal Exchange (LME) will decide on a proposal to shorten delays in delivery of aluminium from the exchange’s warehouses. Investors would do well to keep a watch, as it could affect the performance of aluminium companies. Aluminium buyers, such as beverage can makers in the...
Rising 3-month LME aluminum prices and European semis pricing, which improved against a more optimistic manufacturing performance by many of the countries within the EU, drove MetalMiner’s monthly Aluminum MMI up 1.1% for September. Long-time aluminum industry observers know that September serves...
Negotiations between producers and buyers for main Japanese port (MJP) aluminium premiums for fourth quarter delivery continued this week, with purchasers pushing for lower premiums. Rio Tinto opened talks for Q4 MJP premiums via a detailed letter it sent to clients on August 24 asking for a...
Two-thirds of aluminum producers would be losing money because of lower premiums paid on top of exchange benchmarks if the world’s biggest metals bourse approves rules to cut waiting times at its warehouses, according to JPMorgan Chase & Co. Premiums to obtain the metal will drop 60 percent to...
Aluminium premiums are being offered within a huge range for spot deals in Europe, with some sellers desperate to offload material into a market from which consumers continue to hold back, ahead of anticipated falls. Metal Bulletin’s European duty-paid aluminium premium stands at $245-265 per...
Top aluminium producers have offered Japanese buyers a premium of $250 per tonne for October-December primary metal shipments, flat from the previous quarter, three sources involved in quarterly pricing talks said on Wednesday. Japan is Asia's biggest importer of the metal and the fee sets the...
