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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Japanese trading houses are not buying primary aluminum ingot from the spot market despite supply easing, market sources said Wednesday. Supply on a spot basis was available due to non-Japanese customers reducing order volumes and spot demand in Asia not as strong as previously expected, the...
Manufacturers of value-added aluminum products haven’t been making much headway in terms of securing long-term supply contracts for next year, a European producer of value-added products told AMM sister publication Metal Bulletin "We’ve not started closing transactions for next year yet," the...
China import premiums for Good Western aluminum edged down to $220-230/mt CIF plus LME cash this week, from $230-240/mt at end-September, as the Chinese market returned from its week-long National Day holidays. Market participants said sellers' ideas remained unchanged over the same period at...
It was inevitable, really – we have written several times this year on the rising spot premiums for physical delivery of primary aluminum ingot. Japan has seen the greatest surge in premiums, but Europe and even the U.S. Midwest ingot price have not been far behind. Of course in the U.S., consumers...
Aluminum buyers in Japan, Asia’s biggest importer, agreed to pay record premiums over the benchmark prices in London for a second straight quarter after suppliers deepened output cuts, said three industry executives. Premiums for the three months starting October were set at $253 to $255 a metric...
Two of the world’s largest aluminium producers have called for a shake-up of the London Metal Exchange’s warehousing rules, a move that could end a lucrative trading opportunity that has benefited banks and trading houses such as Goldman Sachs and Glencore. The call will put pressure on Hong Kong...
Aluminium premiums will continue to rise in the next 18 months, First Deputy Chief Operating Officer of Rusal, the world's largest aluminium producer, said on Thursday. "There are different scenarios of market development, including a decline, but we do not expect this during the next 18 months....
The arrival of investment banks in the aluminium market has triggered a shake-up in the $100bn industry that is forcing producers from Alcoa to Rusal and consumers such as BMW and Coca-Cola to change the way they do business. The increasingly dominant role of banks including Goldman Sachs, JPMorgan...
U.S. aluminum premiums inched higher Friday to another all-time record as supply remains tight. Midwest P1020 spot premiums rose to 11 to 11.5 cents per pound Friday from 11 to 11.4 cents previously, with some traders reporting deals for immediate delivery as high as 12 cents per pound. U.S. supply...
A term premium of $255 per tonne for primary aluminium shipments to Japan has been agreed in at least one deal for the October-December quarter, a trader said on Friday, outpacing a third quarter record by nearly 24 percent. In June, aluminium buyers in Japan, Asia's biggest importer of the metal,...
Japanese aluminium buyers are looking to lock in fourth-quarter supplies at a premium of around $250 to $253 per tonne, two industry sources said on Wednesday, about 20 percent more than the record high level of the previous three months. In June, Japanese aluminium buyers -- Asia's biggest...
Fourth-quarter Japan aluminum contract premiums will likely settle higher compared with the third quarter as supply remains tight in Asia due to smelter cutbacks and the movement of metal into long-term financing deals, traders said Monday. Premiums to London Metal Exchange aluminum prices are...
Rio Tinto Alcan has declined to set an indicative price in quarterly premium talks due to kick off next week with Japanese buyers of primary aluminium, and will instead negotiate individual deals, two sources involved in the talks said. The company told buyers in a letter on Friday it did not...
Record aluminum premiums have two major implications for the aluminum market, said R.J. O'Brien & Associates in a commodities research note. "Since the premiums are paid to the smelters, the revenues arising provide some offset to the fall in LME (London Metal Exchange) prices. Thus less production...
Japanese aluminum buyers are expecting fourth quarter premiums to rise to record-high levels despite slowing demand, sources said Friday ahead of the negotiations from next week. The highest quarterly premium recorded at least since since September 2000 was $200-210/mt plus LME cash CIF Japan for...
Premiums paid for aluminum in Europe and North America are set to extend gains to records in 12 months as financing transactions tying up inventories keep buyers waiting as long as a year for deliveries. The fee in Rotterdam, excluding duties, will rise 17 percent to about $240 a metric ton on top...
United Co. Rusal, the world’s biggest aluminum producer, said physical premiums will continue to rise in the next 12 to 18 months as so-called financing deals tie up metal stockpiles and demand grows. About 65 percent of aluminum stockpiles monitored by the London Metal Exchange are locked in...
Sterlite Industries India Limited announced the production of Vedanta Aluminium. During Q1, Lanjigarh refinery produced 218,000 tonnes of alumina with bauxite from BALCO and third party purchases. Aluminium production at Jharsuguda was 11% higher at 124,000 tonnes as compared with corresponding...
