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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Aluminum buyers in Japan, Asia’s largest importer, will probably agree to pay near-record fees next quarter as demand recovers from a three-year low on economic stimulus, said three executives involved in the talks. Fees for the three months starting in April may rise about 2 percent from $240 to...
Banks in Europe have begun trading swaps designed to protect industrial users of aluminium - who already have to pay steep premiums above the London Metal Exchange (LME) cash price to get hold of metal - from yet bigger surcharges. Banking and industry sources say customer enquiries on using the...
A pickup in aluminum P1020 demand this week pushed Midwest spot premiums to fresh record highs, with most participants anticipating a further increase on the horizon. Midwest premiums rose to 11 to 12 cents per pound from 10.5 to 11.5 cents previously. People came in for spot that never buy spot,"...
Asian aluminum premiums have held steady in muted trading during the holiday season, with business being done on a short-term contract basis following last year's premiums volatility. "Spot Main Japanese Port (MJP) premiums were at $240 to $245 per tonne, same as long-term quarterly premium(s)," a...
The Platts US aluminum premium remained flat at 11 cents/lb plus London Metal Exchange cash, delivered Midwest, January 4, as most market participants were just coming back from the holiday break and finalizing their year-end inventory positions as well as planning for the coming year. Business in...
Demand in the European physical aluminium market is still weak with little market activity reported. "It's very quiet and I haven't been talking to traders or suppliers," one European consumer said. He said he was completely covered for December and had now booked most of his requirements for next...
Japanese buyers have agreed an aluminium premium of $240 per tonne with Rio Tinto Alcan for some January-March shipments, down from a record $254 to $255 in the previous quarter, three sources directly involved in the talks said on Wednesday. Rio Tinto Alcan offered premiums of $240 last month. The...
Harbor Intelligence looks for North American aluminum premiums to hit record highs in the first quarter and for the market to be in a supply deficit in 2013. The aluminum-analysis firm says there is the risk of potential primary aluminum output disruptions in Canada since no agreement has been...
Global resources major Rio Tinto Alcan has offered a premium of $240/mt plus London Metal Exchange cash CIF Japan for shipments of primary aluminum to Japan in the first quarter of 2013, local market sources said Tuesday. The premium is for supplies of primary aluminum shipped from the Rio Tinto...
Rio Tinto Alcan has written to Japanese buyers asking them to pay a premium of $240 per tonne over the LME cash price for January-March primary aluminium shipments, a source directly involved in the talks said on Monday. That compares with average premiums of $254 to $255 a tonne , a record high,...
The European physical aluminium market has seen little spot activity this week with buyers and sellers continuing to negotiate contracts for next year. "There is nothing exciting happening. We are still trying to find the right prices and agreements for next year," one consumer said. He said that...
Sterlite Industries' (Sterlite) 2QFY13 consolidated EBITDA, at Rs.25.3bn, was better than estimates, led by above estimated volumes across business segments. PAT, at Rs.17.4bn, was significantly higher than expectations due to forex gains and lower finance expenses. Sterlite will benefit from...
The European Commission will discuss aluminum premiums and “difficulties” in getting metal from warehouses monitored by the London Metal Exchange, at a time when consumers pay record fees to obtain metal. “We can confirm that industry, especially aluminum industry, has brought to our attention the...
South Korea has bought 4,000 tonnes of aluminium ingots at premiums of $224-249 per tonne on a cost, freight and insurance (CIF) basis, the state-run Public Procurement Service (PPS) said. PPS, which manages South Korea’s strategic commodities, bought 2,000 tonnes of LME Indian-origin ingots from...
Aluminum consumers are buying metal on a short-term basis rather than for later delivery, according to Sucden Financial Ltd., one of the 12 companies on the floor of the London Metal Exchange. “There is little sign of forward bookings,” said Steve Hardcastle, head of client services for industrial...
Asian aluminum premiums have stabilized over the past week as market participants look to next year’s negotiations amid growing expectations of a fall in quarterly premiums. "Japan and (South) Korea are quiet, but we have no spot (material) to offer," a source at a top producer told AMM sister...
AMG Aluminum has changed its pricing formula due to record high global aluminum premiums. This new pricing will offer "transparency to customers" and will provide a "clear understanding to the LME price, the LME premium and the product conversion price," AMG Aluminum, which produces aluminum master...
CME Group (CME.O) expects to see the first trades in its new aluminium swap futures contract by the end of this year as it taps consumer frustration with having to pay steep surcharges to get metal in the midst of a glut, the exchange's head of metals said. The contract is based on the Platts...
