After the energy crisis in the 1970s, Japan's aluminium industry rapidly contracted, with annual capacity shrinking from a peak of 1.5 million tonnes to less than 10,000 tonnes per year. Japan's aluminium supply relies mainly on imports, with the majority of its aluminium demand being met through imports of primary aluminium, aluminium alloy ingots, and other forms. On the demand side, Japan's well-developed automotive industry places a high priority on lightweighting of vehicles, leading to the extensive use of aluminium-based materials to replace steel and reduce vehicle weight. Additionally, the construction sector serves as another major area of aluminium consumption.
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In recent years, although Japan's primary aluminium consumption has declined due to economic pressures and tariff impacts, annual imports of primary aluminium remain at the million-mt level, making Japan one of the world's largest net importers of aluminium ingots. Meanwhile, the Aluminium P1020A (MJP) quarterly premium, CIF Japan, commonly referred to as MJP, has long served as one of the primary pricing benchmarks for Asia and surrounding markets.
Against this backdrop, SMM launched on November 17, 2025: Aluminium P1020A (MJP) quarterly premium, CIF Japan, USD per tonne; Aluminium P1020A (MJP) spot premium, CIF Japan, USD per tonne. Historical prices can be viewed simultaneously on the SMM official website. These prices serve as indicative benchmarks used by trading parties for settlement reference.
Key indicators of the SMM MJP price are as follows:
Note: This article has been issued by SMM and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.
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