The Fourth Quarter Japan's Aluminum Premium Negotiated At $ 115 / Ton

- Sep 05, 2018-

1. Mexican President Pena Nieto: A trade agreement with the United States will reduce recent economic uncertainty. It will be important for Canada to stay in the North American Free Trade Agreement (NAFTA). Mexico will participate in the tripartite talks on NAFTA issues. In the agreement with the United States, Mexico did not accept quotas and restrictions.

2. Japanese producers reported that Japan's aluminum premium in the fourth quarter was US$115/ton, down 13% from the previous quarter. According to foreign news on September 3, Japanese buyers said on Monday that an aluminum producer offered a fourth-quarter shipping aluminum offer to Japanese buyers at a spot price of $115 per ton higher than the London Metal Exchange (LME) spot price, CIF Japan Compared with the third quarter, the premium of 132 US dollars fell by 13%. It has not been confirmed by the manufacturer. The buyer said that a 13% drop in quarterly premiums reflects a mitigation of concerns that the US sanctions against Russian producer RUSAL will curb global aluminum ingot supply. According to the buyer, the above-mentioned producers said that the United States continues to attract aluminum supplies from around the world, and the Japanese market has maintained support at $115 per ton. The buyer said that they have not made a counter-offer and are waiting for quotes from other manufacturers. They also pointed out that Japan's main port inventory is at a high level of 300,000 tons, and the price of 115 US dollars per ton of premium may be rejected. According to sources, Japan's fourth-quarter aluminum premium negotiations are expected to finalize the results at the end of September.